reglab/housing_qa huggingface dataset:
CO Code § 4-2.5-212 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-212. Implied Warranty of Merchantability

  Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind.    Goods to be merchantable must be at least such as   pass without objection in the trade under the description in the lease agreement;    in the case of fungible goods, are of fair average quality within the description;    are fit for the ordinary purposes for which goods of that type are used;    run, within the variation permitted by the lease agreement, of even kind, quality, and quantity within each unit and among all units involved;    are adequately contained, packaged, and labeled as the lease agreement may require; and    conform to any promises or affirmations of fact made on the container or label.       Other implied warranties may arise from course of dealing or usage of trade.     History. Source: L. 91: Entire article added, p. 284, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-314.   Changes: Revised to reflect leasing practices and terminology. E.g., Glenn Dick Equip. Co. v. Galey Constr., Inc., 97 Idaho 216, 225, 541 P.2d 1184, 1193 (implied warranty of merchantability (Article 2) extends to lease transactions).   Definitional Cross References:   “Conforming”. Section 2A-103(1)(d).   “Course of dealing”. Section 1-205.   “Finance lease”. Section 2A-103(1)(g).   “Fungible”. Section 1-201(17).   “Goods”. Section 2A-103(1)(h).   “Lease agreement”. Section 2A-103(1)(k).   “Lease contract”. Section 2A-103(1)(l).   “Lessor”. Section 2A-103(1)(p).   “Merchant”. Section 2-104(1).   “Usage of trade”. Section 1-205.
CO Code § 4-2.5-213 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-213. Implied Warranty of Fitness for Particular Purpose

 Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of any particular purpose for which the goods are required and that the lessee is relying on the lessor's skill or judgment to select or furnish suitable goods, there is in the lease contract an implied warranty that the goods will be fit for that purpose.   History. Source: L. 91: Entire article added, p. 284, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-315.   Changes: Revised to reflect leasing practices and terminology. E.g., All-States Leasing Co. v. Bass, 96 Idaho 873, 879, 538 P.2d 1177, 1183 (implied warranty of fitness for a particular purpose (Article 2) extends to lease transactions).   Definitional Cross References:   “Finance lease”. Section 2A-103(1)(g).   “Goods”. Section 2A-103(1)(h).   “Knows”. Section 1-201(25).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).
CO Code § 4-2.5-215 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-215. Cumulation and Conflict of Warranties Express or Implied

 Warranties, whether express or implied, must be construed as consistent with each other and as cumulative, but if that construction is unreasonable, the intention of the parties determines which warranty is dominant. In ascertaining that intention the following rules apply:    Exact or technical specifications displace an inconsistent sample or model or general language of description.    A sample from an existing bulk displaces inconsistent general language of description.    Express warranties displace inconsistent implied warranties other than an implied warranty of fitness for a particular purpose.     History. Source: L. 91: Entire article added, p. 285, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-317.   Definitional Cross Reference:   “Party”. Section 1-201(29).
CO Code § 4-2.5-217 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-217. Identification

 Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:    When the lease contract is made if the lease contract is for a lease of goods that are existing and identified;    When the goods are shipped, marked, or otherwise designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or    When the young are conceived, if the lease contract is for a lease of unborn young of animals.     History. Source: L. 91: Entire article added, p. 286, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-501.   Changes: This section, together with Section 2A-218, is derived from the provisions of Section 2-501, with changes to reflect lease terminology; however, this section omits as irrelevant to leasing practice the treatment of special property.   Purposes: With respect to subsection (b) there is a certain amount of ambiguity in the reference to when goods are designated, e.g., when the lessor is both selling and leasing goods to the same lessee/buyer and has marked goods for delivery but has not distinguished between those related to the lease contract and those related to the sales contract. As in Section 2-501(1)(b), this issue has been left to be resolved by the courts, case by case.   Cross References:   Sections 2-501 and 2A-218.   Definitional Cross References:   “Agreement”. Section 1-201(3).   “Goods”. Section 2A-103(1)(h).   “Lease”. Section 2A-103(1)(j).   “Lease contract”. Section 2A-103(1)(l).   “Lessor”. Section 2A-103(1)(p).   “Party”. Section 1-201(29).
CO Code § 4-2.5-218 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-218. Insurance and Proceeds

  A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are nonconforming and the lessee has an option to reject them.    If a lessee has an insurable interest only by reason of the lessor's identification of the goods, the lessor, until default or insolvency or notification to the lessee that identification is final, may substitute other goods for those identified.    Notwithstanding a lessee's insurable interest under subsections (1) and (2) of this section, the lessor retains an insurable interest until an option to buy has been exercised by the lessee and risk of loss has passed to the lessee.    Nothing in this section impairs any insurable interest recognized under any other statute or rule of law.    The parties by agreement may determine that one or more parties have an obligation to obtain and pay for insurance covering the goods and by agreement may determine the beneficiary of the proceeds of the insurance.     History. Source: L. 91: Entire article added, p. 286, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-501.   Changes: This section, together with Section 2A-217, is derived from the provisions of Section 2-501, with changes and additions to reflect leasing practices and terminology.   Purposes: Subsection (2) states a rule allowing substitution of goods by the lessor under certain circumstances, until default or insolvency of the lessor, or until notification to the lessee that identification is final. Subsection (3) states a rule regarding the lessor's insurable interest that, by virtue of the difference between a sale and a lease, necessarily is different from the rule stated in Section 2-501(2) regarding the seller's insurable interest. For this purpose the option to buy shall be deemed to have been exercised by the lessee when the resulting sale is closed, not when the lessee gives notice to the lessor. Further, subsection (5) is new and reflects the common practice of shifting the responsibility and cost of insuring the goods between the parties to the lease transaction.   Cross References:   Sections 2-501, 2-501(2) and 2A-217.   Definitional Cross References:   “Agreement”. Section 1-201(3).   “Buying”. Section 2A-103(1)(a).   “Conforming”. Section 2A-103(1)(d).   “Goods”. Section 2A-103(1)(h).   “Insolvent”. Section 1-201(23).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Notification”. Section 1-201(26).   “Party”. Section 1-201(29).
CO Code § 4-2.5-219 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-219. Risk of Loss

  Except in the case of a finance lease, risk of loss is retained by the lessor and does not pass to the lessee. In the case of a finance lease, risk of loss passes to the lessee.    Subject to the provisions of this article on the effect of default on risk of loss (section 4-2.5-220), if risk of loss is to pass to the lessee and the time of passage is not stated, the following rules apply:   If the lease contract requires or authorizes the goods to be shipped by carrier   and it does not require delivery at a particular destination, the risk of loss passes to the lessee when the goods are duly delivered to the carrier; but    if it does require delivery at a particular destination and the goods are there duly tendered while in the possession of the carrier, the risk of loss passes to the lessee when the goods are there duly so tendered as to enable the lessee to take delivery.       If the goods are held by a bailee to be delivered without being moved, the risk of loss passes to the lessee on acknowledgment by the bailee of the lessee's right to possession of the goods.    In any case not within paragraph (a) or (b) of this subsection (2), the risk of loss passes to the lessee on the lessee's receipt of the goods if the lessor, or, in the case of a finance lease, the supplier, is a merchant; otherwise the risk passes to the lessee on tender of delivery.        History. Source: L. 91: Entire article added, p. 287, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-509(1) through (3).   Changes: Subsection (1) is new. The introduction to subsection (2) is new, but subparagraph (a) incorporates the provisions of Section 2-509(1); subparagraph (b) incorporates the provisions of Section 2-509(2) only in part, reflecting current practice in lease transactions.   Purposes: Subsection (1) states rules related to retention or passage of risk of loss consistent with current practice in lease transactions. The provisions of subsection (4) of Section 2-509 are not incorporated as they are not necessary. This section does not deal with responsibility for loss caused by the wrongful act of either the lessor or the lessee.   Cross References:   Sections 2-509(1), 2-509(2) and 2-509(4).   Definitional Cross References:   “Delivery”. Section 1-201(14).   “Finance lease”. Section 2A-103(1)(g).   “Goods”. Section 2A-103(1)(h).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Merchant”. Section 2-104(1).   “Receipt”. Section 2-103(1)(c).   “Rights”. Section 1-201(36).   “Supplier”. Section 2A-103(1)(x).
CO Code § 4-2.5-220 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-220. Effect of Default on Risk of Loss

  Where risk of loss is to pass to the lessee and the time of passage is not stated:   If a tender or delivery of goods so fails to conform to the lease contract as to give a right of rejection, the risk of their loss remains with the lessor, or, in the case of a finance lease, the supplier, until cure or acceptance.    If the lessee rightfully revokes acceptance, he or she, to the extent of any deficiency in his or her effective insurance coverage, may treat the risk of loss as having remained with the lessor from the beginning.       Whether or not risk of loss is to pass to the lessee, if the lessee as to conforming goods already identified to a lease contract repudiates or is otherwise in default under the lease contract, the lessor, or, in the case of a finance lease, the supplier, to the extent of any deficiency in his or her effective insurance coverage may treat the risk of loss as resting on the lessee for a commercially reasonable time.     History. Source: L. 91: Entire article added, p. 287, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-510.   Changes: Revised to reflect leasing practices and terminology. The rule in Section (1)(b) does not allow the lessee under a finance lease to treat the risk of loss as having remained with the supplier from the beginning. This is appropriate given the limited circumstances under which the lessee under a finance lease is allowed to revoke acceptance. Section 2A-517 and Section 2A-516 official comment.   Definitional Cross References:   “Conforming”. Section 2A-103(1)(d).   “Delivery”. Section 1-201(14).   “Finance lease”. Section 2A-103(1)(g).   “Goods”. Section 2A-103(1)(h).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Reasonable time”. Section 1-204(1) and (2).   “Rights”. Section 1-201(36).   “Supplier”. Section 2A-103(1)(x).
CO Code § 4-2.5-221 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 2 - Formation and Construction of Lease Contract|§ 4-2.5-221. Casualty to Identified Goods

 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 section 4-2.5-219 , then:    If the loss is total, the lease contract is avoided; and    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 his or her option either treat the lease contract as avoided or, except in a finance lease that is not a consumer 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.     History. Source: L. 91: Entire article added, p. 288, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-613.   Changes: Revised to reflect leasing practices and terminology.   Purposes: Due to the vagaries of determining the amount of due allowance (Section 2-613(b)), no attempt was made in subsection (b) to treat a problem unique to lease contracts and installment sales contracts: determining how to recapture the allowance, e.g., application to the first or last rent payments or allocation, pro rata, to all rent payments.   Cross References:   Section 2-613.   Definitional Cross References:   “Conforming”. Section 2A-103(1)(d).   “Consumer lease”. Section 2A-103(1)(e).   “Delivery”. Section 1-201(14).   “Fault”. Section 2A-103(1)(f).   “Finance lease”. Section 2A-103(1)(g).   “Goods”. Section 2A-103(1)(h).   “Lease”. Section 2A-103(1)(j).   “Lease agreement”. Section 2A-103(1)(k).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Rights”. Section 1-201(36).   “Supplier”. Section 2A-103(1)(x).
CO Code § 4-2.5-302 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 3 - Effect of Lease Contract|§ 4-2.5-302. Title to and Possession of Goods

 Except as otherwise provided in this article, each provision of this article applies whether the lessor or a third party has title to the goods, and whether the lessor, the lessee, or a third party has possession of the goods, notwithstanding any statute or rule of law that possession or the absence of possession is fraudulent.   History. Source: L. 91: Entire article added, p. 288, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 9-202.   Changes: Section 9-202 was modified to reflect leasing terminology and to clarify the law of leases with respect to fraudulent conveyances or transfers.   Purposes: The separation of ownership and possession of goods between the lessor and the lessee (or a third party) has created problems under certain fraudulent conveyance statutes. See, e.g., In re Ludlum Enters., 510 F.2d 996 (5th Cir. 1975); Suburbia Fed. Sav. Loan Ass'n v. Bel-Air Conditioning Co., 385 So. 2d 1151 (Fla. Dist. Ct. App. 1980). This section provides, among other things, that separation of ownership and possession per se does not affect the enforceability of the lease contract. Sections 2A-301 and 2A-308.   Cross References:   Sections 2A-301, 2A-308 and 9-202.   Definitional Cross References:   “Goods”. Section 2A-103(1)(h).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).
CO Code § 4-2.5-306 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 3 - Effect of Lease Contract|§ 4-2.5-306. Priority of Certain Liens Arising by Operation of Law

 If a person in the ordinary course of his [or her] business furnishes services or materials with respect to goods subject to a lease contract, a lien upon those goods in the possession of that person given by statute or rule of law for those materials or services takes priority over any interest arising under the lease contract or this article of the party to the lease contract at whose instance the services or materials were furnished, but does not take priority over any such interest of the other party to the lease contract unless the lien is created by statute and the statute provides otherwise or unless the lien is created by rule of law and the rule of law provides otherwise.   History. Source: L. 91: Entire article added, p. 292, § 1, effective July 1, 1992.    Editor's note - Colorado legislative change: After the word “interest”, Colorado deleted the words “of the lessor or lessee under the lease contract or this article” and substituted the words “arising under the lease contract or this article of the party to the lease contract at whose instance the services or materials were furnished, but does not take priority over any such interest of the other party to the lease contract”.   OFFICIAL COMMENT   Uniform Statutory Source: Section 9-310.   Changes: The approach reflected in the provisions of Section 9-310 was included, but revised to conform to leasing terminology and to expand the exception to the special priority granted to protected liens to cover liens created by rule of law as well as those created by statute.   Purposes: This section should be interpreted to allow a qualified lessor or a qualified lessee to be the competing lienholder if the statute or rule of law so provides. The reference to statute includes applicable regulations and cases; these sources must be reviewed in resolving a priority dispute under this section.   Cross Reference:   Section 9-310.   Definitional Cross References:   “Goods”. Section 2A-103(1)(h).   “Lease Contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Lien”. Section 2A-103(1)(r).   “Person”. Section 1-201(30).
CO Code § 4-2.5-311 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 3 - Effect of Lease Contract|§ 4-2.5-311. Priority Subject to Subordination

 Nothing in this article prevents subordination by agreement by any person entitled to priority.   History. Source: L. 91: Entire article added, p. 297, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 9-316.   Purposes: The several preceding sections deal with questions of priority. This section is inserted to make it entirely clear that a person entitled to priority may effectively agree to subordinate the claim. Only the person entitled to priority may make such an agreement: the rights of such a person cannot be adversely affected by an agreement to which that person is not a party.   Cross References:   Sections 1-102 and 2A-304 through 2A-310.   Definitional Cross References:   “Agreement”. Section 1-201(3).   “Person”. Section 1-201(30).
CO Code § 4-2.5-402 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused|§ 4-2.5-402. Anticipatory Repudiation

 If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance will substantially impair the value of the lease contract to the other, the aggrieved party may:    For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party;    Make demand pursuant to section 4-2.5-401 and await assurance of future performance adequate under the circumstances of the particular case; or    Resort to any right or remedy upon default under the lease contract or this article, even though the aggrieved party has notified the repudiating party that the aggrieved party would await the repudiating party's performance and assurance and has urged retraction. In addition, whether or not the aggrieved party is pursuing one of the foregoing remedies, the aggrieved party may suspend performance or, if the aggrieved party is the lessor, proceed in accordance with the provisions of this article on the lessor's right to identify goods to the lease contract notwithstanding default or to salvage unfinished goods (section 4-2.5-524).     History. Source: L. 91: Entire article added, p. 297, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-610.   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Aggrieved party”. Section 1-201(2).   “Goods”. Section 2A-103(1)(h).   “Lease contract”. Section 2A-103(1)(l).   “Lessor”. Section 2A-103(1)(p).   “Notifies”. Section 1-201(26).   “Party”. Section 1-201(29).   “Reasonable time”. Section 1-204(1) and (2).   “Remedy”. Section 1-201(34).   “Rights”. Section 1-201(36).   “Value”. Section 1-201(44).
CO Code § 4-2.5-403 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused|§ 4-2.5-403. Retraction of Anticipatory Repudiation

  Until the repudiating party's next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the aggrieved party has cancelled the lease contract or materially changed the aggrieved party's position or otherwise indicated that the aggrieved party considers the repudiation final.    Retraction may be by any method that clearly indicates to the aggrieved party that the repudiating party intends to perform under the lease contract and includes any assurance demanded under section 4-2.5-401.    Retraction reinstates a repudiating party's rights under a lease contract with due excuse and allowance to the aggrieved party for any delay occasioned by the repudiation.     History. Source: L. 91: Entire article added, p. 298, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-611.   Changes: Revised to reflect leasing practices and terminology. Note that in the analogue to subsection (2) (Section 2-611(2)) the adjective “justifiably” modifies demanded. The adjective was deleted here (as it was in Section 2A-401) as unnecessary, implying no substantive change.   Definitional Cross References:   “Aggrieved party”. Section 1-201(2).   “Cancellation”. Section 2A-103(1)(b).   “Lease contract”. Section 2A-103(1)(l).   “Party”. Section 1-201(29).   “Rights”. Section 1-201(36).