Source: http://webserver.rilin.state.ri.us/Statutes/TITLE6A/6A-2.1/6A-2.1-406.HTM
Timestamp: 2017-11-23 16:58:30
Document Index: 691736475

Matched Legal Cases: ['ART 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6']

6A-2.1-406
PART 6A-2.1-401
SECTION 6A-2.1-406
§ 6A-2.1-406 Procedure on excused performance.
(1) If the lessee receives notification of a material or indefinite delay or an allocation justified under § 6A-2.1-405, the lessee may by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (§ 6A-2.1-510):
(a) Terminate the lease contract (§ 6A-2.1-505(2)); or
(2) If, after receipt of a notification from the lessor under § 6A-2.1-405, the lessee fails so to modify the lease agreement within a reasonable time not exceeding 30 days, the lease contract lapses with respect to any deliveries affected.