§490:2A-505 Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies. (a) On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains any remedy for default of the whole lease contract or any unperformed balance.
(b) On termination of the lease contract, all obligations that are still executory on both sides are discharged but any right based on prior default or performance survives.
(c) Unless the contrary intention clearly appears, expressions of "cancellation", "rescission", or the like of the lease contract may not be construed as a renunciation or discharge of any claim in damages for an antecedent default.
(d) Rights and remedies for material misrepresentation or fraud include all rights and remedies available under this article for default.
(e) Neither rescission nor a claim for rescission of the lease contract nor rejection or return of the goods may bar or be deemed inconsistent with a claim for damages or other right or remedy. [L 1991, c 40, pt of §1]
Section: Previous 490-2a-405 490-2a-406 490-2a-407 490-2a-501 490-2a-502 490-2a-503 490-2a-504 490-2a-505 490-2a-506 490-2a-507 490-2a-508 490-2a-509 490-2a-510 490-2a-511 490-2a-512 NextLast modified: October 27, 2016