Source: http://www.law.cornell.edu/ucc/2A/2A-503
Timestamp: 2014-04-25 07:57:06
Document Index: 603655472

Matched Legal Cases: ['§ 2', 'ART 5', '§ 2', '§ 2', '§ 2', '§ 2']

§ 2A-503. MODIFICATION OR IMPAIRMENT OF RIGHTS AND REMEDIES. | UCC - Uniform Commercial Code | LII / Legal Information Institute
Uniform Commercial Code › U.C.C. - ARTICLE 2A - LEASES (2002) › PART 5. DEFAULT › § 2A-503. MODIFICATION OR IMPAIRMENT OF RIGHTS AND REMEDIES. § 2A-503. MODIFICATION OR IMPAIRMENT OF RIGHTS AND REMEDIES.
(1) Except as otherwise provided in this Article, the lease agreementmay include rights and remedies for default in addition to or in substitution for those provided in this Article and may limit or alter the measure of damages recoverable under this Article.
(2) Resort to a remedy provided under this Article or in the lease agreementis optional unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this Article.
(3) Consequential damages may be liquidated under Section 2A-504, or may otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion is unconscionable. Limitation, alteration, or exclusion of consequential damages for injury to the person in the case of consumer goodsis prima facie unconscionable but limitation, alteration, or exclusion of damages where the loss is commercial is not prima facie unconscionable.
‹ § 2A-502. NOTICE AFTER DEFAULT.
§ 2A-504. LIQUIDATION OF DAMAGES. ›