Michigan Compiled Laws 174-1962-2a-4 Part 4 Performance Of Lease Contract: Repudiated, Substituted, And Excused (440.2931...440.2937)

• Section 440.2931 Lease Contract; Demanding Adequate Assurance Of Due Performance; Repudiation; Determination Of Adequacy; Acceptance Of Nonconforming Delivery Or Payment.
  (1) A lease contract imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. (2) If...
• Section 440.2932 Repudiation Of Lease Contract.
  If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance...
• Section 440.2933 Retraction Of Repudiation.
  (1) Until the repudiating party's next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the aggrieved party has...
• Section 440.2934 Substituted Performance; Tender And Acceptance; Failure Of Payment Due To Government Regulation.
  (1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type...
• Section 440.2935 Substituted Performance; Delay Or Nondelivery; Allocating Production And Deliveries; Notification.
  Subject to section 2A404 on substituted performance, the following rules apply: (a) Delay in delivery or nondelivery in whole or in part by a...
• Section 440.2936 Notification By Lessor Of Delay Or Allocation; Rights Of Lessee; Lapse Of Lease Contract.
  (1) If the lessee receives notification of a material or indefinite delay or an allocation justified under section 2A405, the lessee may by written...
• Section 440.2937 Finance Lease Other Than Consumer Lease; Effect Of Lessee's Promises; Acceptance Of Goods By Lessee; Enforcement; Validity.
  (1) In the case of a finance lease that is not a consumer lease, the lessee's promises under the lease contract become irrevocable and...

Last modified: October 10, 2016