§ 2A505. Cancellation and termination and effect of
cancellation, termination, rescission or fraud on
rights and remedies.
(a) Cancellation of contract.--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) Termination of contract.--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) Damage claim for antecedent default.--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) Misrepresentation or fraud.--Rights and remedies for material misrepresentation or fraud include all rights and remedies available under this division for default.
(e) Inconsistency of claim or remedy.--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.
Cross References. Section 2A505 is referred to in sections 2A406, 2A508, 2A523 of this title.Section: Previous 2a501 2a502 2a503 2a504 2a505 2a506 2a507 2a508 2a509 2a510 2a511 2a512 2a513 2a514 Next
Last modified: October 8, 2016