New York Uniform Commercial Code Law Part 4 - PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED

• 2-a-401 - Insecurity: Adequate Assurance of Performance.
  Section (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...
• 2-a-402 - Anticipatory Repudiation.
  Section If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance...
• 2-a-403 - Retraction of Anticipatory Repudiation.
  Section (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...
• 2-a-404 - Substituted Performance.
  Section (1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type...
• 2-a-405 - Excused Performance.
  Section (1) Subject to Section 2-A-404 on substituted performance, the following rules apply: (a) delay in delivery or nondelivery in whole or in part by...
• 2-a-406 - Procedure on Excused Performance.
  Section (1) If the lessee receives notification of a material or indefinite delay or an allocation justified under Section 2-A-405, the lessee may by written...
• 2-a-407 - Irrevocable Promises: Finance Leases.
  Section (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: February 3, 2019