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 under the lease agreement or AS 45.12.219 then, if the loss is
(1) total, the lease contract is avoided; and
(2) 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.
Section: Previous 45.12.208 45.12.209 45.12.210 45.12.211 45.12.212 45.12.213 45.12.214 45.12.215 45.12.216 45.12.217 45.12.218 45.12.219 45.12.220 45.12.221Last modified: November 15, 2016