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 ORS 72A.2190, 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, 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. [1989 c.676 §30]
Section: Previous 72A.2140 72A.2150 72A.2160 72A.2170 72A.2180 72A.2190 72A.2200 72A.2210 72A.3010 72A.3020 72A.3030 72A.3040 72A.3050 72A.3060 72A.3070 NextLast modified: August 7, 2008