§490:2A-221 Casualty to identified goods. If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the lessor or the supplier before delivery, or the goods suffer casualty before risk of loss passes to the lessee pursuant to the lease agreement or section 490:2A-219, then:
(1) If the loss is total, the lease contract is avoided; and
(2) If the loss is partial or the goods have so deteriorated as to no longer conform to the lease contract, the lessee may nevertheless demand inspection and at the lessee's option either treat the lease contract as avoided or, except in a finance lease that is not a consumer lease, accept the goods with due allowance from the rent payable for the balance of the lease term for the deterioration or the deficiency in quantity but without further right against the lessor. [L 1991, c 40, pt of §1]
Section: Previous 490-2a-214 490-2a-215 490-2a-216 490-2a-217 490-2a-218 490-2a-219 490-2a-220 490-2a-221 490-2a-301 490-2a-302 490-2a-303 490-2a-304 490-2a-305 490-2a-306 490-2a-307 NextLast modified: October 27, 2016