reglab/housing_qa huggingface dataset:
CO Code § 4-2.5-404 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused|§ 4-2.5-404. Substituted Performance

  If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.    If the agreed means or manner of payment fails because of domestic or foreign governmental regulation:   The lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and    If delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee's obligation unless the regulation is discriminatory, oppressive, or predatory.        History. Source: L. 91: Entire article added, p. 298, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-614.   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Agreed”. Section 1-201(3).   “Delivery”. Section 1-201(14).   “Fault”. Section 2A-103(1)(f).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Supplier”. Section 2A-103(1)(x).
CO Code § 4-2.5-405 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused|§ 4-2.5-405. Excused Performance

 Subject to section 4-2.5-404 on substituted performance, the following rules apply:    Delay in delivery or nondelivery in whole or in part by lessor or a supplier who complies with paragraphs (b) and (c) is not a default under the lease contract if performance as agreed has been made impracticable by the occurrence of a contingency the nonoccurrence of which was a basic assumption on which the lease contract was made or by compliance in good faith with any applicable foreign or domestic governmental regulation or order, whether or not the regulation or order later proves to be invalid.    If the causes mentioned in paragraph (a) affect only part of the lessor's or the supplier's capacity to perform, he or she shall allocate production and deliveries among his or her customers but at his or her option may include regular customers not then under contract for sale or lease as well as his or her own requirements for further manufacture. He or she may so allocate in any manner that is fair and reasonable.    The lessor seasonably shall notify the lessee and in the case of a finance lease the supplier seasonably shall notify the lessor and the lessee, if known, that there will be delay or nondelivery and, if allocation is required under paragraph (b), of the estimated quota thus made available for the lessee.     History. Source: L. 91: Entire article added, p. 299, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-615.   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Agreed”. Section 1-201(3).   “Contract”. Section 1-201(11).   “Delivery”. Section 1-201(14).   “Finance lease”. Section 2A-103(1)(g).   “Good faith”. Sections 1-201(19) and 2-103(1)(b).   “Knows”. Section 1-201(25).   “Lease”. Section 2A-103(1)(j).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Notifies”. Section 1-201(26).   “Sale”. Section 2-106(1).   “Seasonably”. Section 1-204(3).   “Supplier”. Section 2A-103(1)(x).
CO Code § 4-2.5-406 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused|§ 4-2.5-406. Procedure on Excused Performance

  If the lessee receives notification of a material or indefinite delay or an allocation justified under section 4-2.5-405, 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 (section 4-2.5-510):   Terminate the lease contract (section 4-2.5-505 (2)); or    Except in a finance lease that is not a consumer lease, modify the lease contract by accepting the available quota in substitution, with due allowance from the rent payable for the balance of the lease term for the deficiency but without further right against the lessor.       If, after receipt of a notification from the lessor under section 4-2.5-405, the lessee fails so to modify the lease agreement within a reasonable time not exceeding thirty days, the lease contract lapses with respect to any deliveries affected.     History. Source: L. 91: Entire article added, p. 299, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-616(1) and (2).   Changes: Revised to reflect leasing practices and terminology. Note that subsection 1(a) allows the lessee under a lease, including a finance lease, the right to terminate the lease for excused performance (Sections 2A-404 and 2A-405). However, subsection 1(b), which allows the lessee the right to modify the lease for excused performance, excludes a finance lease that is not a consumer lease. This exclusion is compelled by the same policy that led to codification of provisions with respect to irrevocable promises. Section 2A-407.   Definitional Cross References:   “Consumer lease”. Section 2A-103(1)(e).   “Delivery”. Section 1-201(14).   “Finance lease”. Section 2A-103(1)(g).   “Goods”. Section 2A-103(1)(h).   “Installment lease contract”. Section 2A-103(1)(i).   “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).   “Notice”. Section 1-201(25).   “Reasonable time”. Section 1-204(1) and (2).   “Receipt”. Section 2-103(1)(c).   “Rights”. Section 1-201(36).   “Termination”. Section 2A-103(1)(z).   “Value”. Section 1-201(44).   “Written”. Section 1-201(46).
CO Code § 4-2.5-502 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-502. Notice After Default

 Except as otherwise provided in this article or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement.   History. Source: L. 91: Entire article added, p. 301, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: None.   Purposes: This section makes clear that absent agreement to the contrary or provision in this Article to the contrary, e.g., Section 2A-516(3)(a), the party in default is not entitled to notice of default or enforcement. While a review of Part 5 of Article 9 leads to the same conclusion with respect to giving notice of default to the debtor, it is never stated. Although Article 9 requires notice of disposition and strict foreclosure, the different scheme of lessors' and lessees' rights and remedies developed under the common law, and codified by this Article, generally does not require notice of enforcement; furthermore, such notice is not mandated by due process requirements. However, certain sections of this Article do require notice. E.g., Section 2A-517(2).   Cross References:   Sections 2A-516(3)(a), 2A-517(2), and Article 9, esp. Part 5.   Definitional Cross References:   “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).   “Notice”. Section 1-201(25).   “Party”. Section 1-201(29).
CO Code § 4-2.5-505 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-505. Cancellation and Termination and Effect of Cancellation, Termination, Rescission, or Fraud on Rights and Remedies

  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 cancelling party also retains any remedy for default of the whole lease contract or any unperformed balance.    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.    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.    Rights and remedies for material misrepresentation or fraud include all rights and remedies available under this article for default.    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.     History. Source: L. 91: Entire article added, p. 302, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Sections 2-106(3) and (4), 2-720 and 2-721.   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Cancellation”. Section 2A-103(1)(b).   “Goods”. Section 2A-103(1)(h).   “Lease contract”. Section 2A-103(1)(l).   “Party”. Section 1-201(29).   “Remedy”. Section 1-201(34).   “Rights”. Section 1-201(36).   “Termination”. Section 2A-103(1)(z).
CO Code § 4-2.5-507 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-507. Proof of Market Rent: Time and Place

  Damages based on market rent (section 4-2.5-519 or 4-2.5-528) are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times specified in sections 4-2.5-519 and 4-2.5-528.    If evidence of rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times or places described in this article is not readily available, the rent prevailing within any reasonable time before or after the time described or at any other place or for a different lease term which in commercial judgment or under usage of trade would serve as a reasonable substitute for the one described may be used, making any proper allowance for the difference, including the cost of transporting the goods to or from the other place.    Evidence of a relevant rent prevailing at a time or place or for a lease term other than the one described in this article offered by one party is not admissible unless and until he or she has given the other party notice the court finds sufficient to prevent unfair surprise.    If the prevailing rent or value of any goods regularly leased in any established market is in issue, reports in official publications or trade journals or in newspapers or periodicals of general circulation published as the reports of that market are admissible in evidence. The circumstances of the preparation of the report may be shown to affect its weight but not its admissibility.     History. Source: L. 91: Entire article added, p. 303, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Sections 2-723 and 2-724.   Changes: Revised to reflect leasing practices and terminology. Sections 2A-519 and 2A-528 specify the times as of which market rent is to be determined.   Definitional Cross References:   “Goods”. Section 2A-103(1)(h).   “Lease”. Section 2A-103(1)(j).   “Lease agreement”. Section 2A-103(1)(k).   “Notice”. Section 1-201(25).   “Party”. Section 1-201(29).   “Reasonable time”. Section 1-204(1) and (2).   “Usage of trade”. Section 1-205.   “Value”. Section 1-201(44).
CO Code § 4-2.5-509 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-509. Lessee's Rights on Improper Delivery; Rightful Rejection

  Subject to the provisions of section 4-2.5-510 on default in installment lease contracts, if the goods or the tender or delivery fail in any respect to conform to the lease contract, the lessee may reject or accept the goods or accept any commercial unit or units and reject the rest of the goods.    Rejection of goods is ineffective unless it is within a reasonable time after tender or delivery of the goods and the lessee seasonably notifies the lessor.     History. Source: L. 91: Entire article added, p. 305, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Sections 2-601 and 2-602(1).   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Commercial unit”. Section 2A-103(1)(c).   “Conforming”. Section 2A-103(1)(d).   “Delivery”. Section 1-201(14).   “Goods”. Section 2A-103(1)(h).   “Installment lease contract”. Section 2A-103(1)(i).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Notifies”. Section 1-201(26).   “Reasonable time”. Section 1-204(1) and (2).   “Rights”. Section 1-201(36).   “Seasonably”. Section 1-204(3).
CO Code § 4-2.5-510 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-510. Installment Lease Contracts: Rejection and Default

  Under an installment lease contract a lessee may reject any delivery that is nonconforming if the nonconformity substantially impairs the value of that delivery and cannot be cured or the nonconformity is a defect in the required documents; but if the nonconformity does not fall within subsection (2) of this section and the lessor or the supplier gives adequate assurance of its cure, the lessee must accept that delivery.    Whenever nonconformity or default with respect to one or more deliveries substantially impairs the value of the installment lease contract as a whole there is a default with respect to the whole. But, the aggrieved party reinstates the installment lease contract as a whole if the aggrieved party accepts a nonconforming delivery without seasonably notifying of cancellation or brings an action with respect only to past deliveries or demands performance as to future deliveries.     History. Source: L. 91: Entire article added, p. 305, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-612.   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Action”. Section 1-201(1)   “Aggrieved party”. Section 1-201(2).   “Cancellation”. Section 2A-103(1)(b).   “Conforming”. Section 2A-103(1)(d).   “Delivery”. Section 1-201(14).   “Installment lease contract”. Section 2A-103(1)(i).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Notifies”. Section 1-201(26).   “Seasonably”. Section 1-204(3).   “Supplier”. Section 2A-103(1)(x).   “Value”. Section 1-201(44).
CO Code § 4-2.5-511 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-511. Merchant Lessee's Duties as to Rightfully Rejected Goods

  Subject to any security interest of a lessee (section 4-2.5-508 (5)), if a lessor or a supplier has no agent or place of business at the market of rejection, a merchant lessee, after rejection of goods in his or her possession or control, shall follow any reasonable instructions received from the lessor or the supplier with respect to the goods. In the absence of those instructions, a merchant lessee shall make reasonable efforts to sell, lease, or otherwise dispose of the goods for the lessor's account if they threaten to decline in value speedily. Instructions are not reasonable if on demand indemnity for expenses is not forthcoming.    If a merchant lessee (subsection (1)) or any other lessee (section 4-2.5-512) disposes of goods, he or she is entitled to reimbursement either from the lessor or the supplier or out of the proceeds for reasonable expenses of caring for and disposing of the goods and, if the expenses include no disposition commission, to such commission as is usual in the trade, or if there is none, to a reasonable sum not exceeding ten percent of the gross proceeds.    In complying with this section or section 4-2.5-512, the lessee is held only to good faith. Good faith conduct hereunder is neither acceptance or conversion nor the basis of an action for damages.    A purchaser who purchases in good faith from a lessee pursuant to this section or section 4-2.5-512 takes the goods free of any rights of the lessor and the supplier even though the lessee fails to comply with one or more of the requirements of this article.     History. Source: L. 91: Entire article added, p. 306, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Sections 2-603 and 2-706(5).   Changes: Revised to reflect leasing practices and terminology. This section, by its terms, applies to merchants as well as others. Thus, in construing the section it is important to note that under this Act the term good faith is defined differently for merchants (Section 2-103(1)(b)) than for others (Section 1-201(19)). Section 2A-103(3) and (4).   Definitional Cross References:   “Action”. Section 1-201(1).   “Good faith”. Sections 1-201(19) and 2-103(1)(b).   “Goods”. Section 2A-103(1)(h).   “Lease”. Section 2A-103(1)(j).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Merchant lessee”. Section 2A-103(1)(t).   “Purchaser”. Section 1-201(33).   “Rights”. Section 1-201(36).   “Security interest”. Section 1-201(37).   “Supplier”. Section 2A-103(1)(x).   “Value”. Section 1-201(44).
CO Code § 4-2.5-512 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-512. Lessee's Duties as to Rightfully Rejected Goods

  Except as otherwise provided with respect to goods that threaten to decline in value speedily (section 4-2.5-511) and subject to any security interest of a lessee (section 4-2.5-508 (5)):   The lessee, after rejection of goods in the lessee's possession, shall hold them with reasonable care at the lessor's or the supplier's disposition for a reasonable time after the lessee's seasonable notification of rejection;    If the lessor or the supplier gives no instructions within a reasonable time after notification of rejection, the lessee may store the rejected goods for the lessor's or the supplier's account or ship them to the lessor or the supplier or dispose of them for the lessor's or the supplier's account with reimbursement in the manner provided in section 4-2.5-511; but    The lessee has no further obligations with regard to goods rightfully rejected.       Action by the lessee pursuant to subsection (1) of this section is not acceptance or conversion.     History. Source: L. 91: Entire article added, p. 306, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Sections 2-602(2)(b) and (c) and 2-604.   Changes: Substantially rewritten.   Purposes: The introduction to subsection (1) references goods that threaten to decline in value speedily and not perishables, the reference in Section 2-604, the statutory analogue. This is a change in style, not substance, as the first phrase includes the second. Subparagraphs (a) and (c) are revised versions of the provisions of Section 2-602(2)(b) and (c). Subparagraph (a) states the rule with respect to the lessee's treatment of goods in its possession following rejection; subparagraph (b) states the rule regarding such goods if the lessor or supplier then fails to give instructions to the lessee. If the lessee performs in a fashion consistent with subparagraphs (a) and (b), subparagraph (c) exonerates the lessee.   Cross References:   Sections 2-602(2)(b), 2-602(2)(c) and 2-604.   Definitional Cross References:   “Action”. Section 1-201(1).   “Goods”. Section 2A-103(1)(h).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Notification”. Section 1-201(26).   “Reasonable time”. Section 1-204(1) and (2).   “Seasonably”. Section 1-204(3).   “Security interest”. Section 1-201(37).   “Supplier”. Section 2A-103(1)(x).   “Value”. Section 1-201(44).
CO Code § 4-2.5-513 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-513. Cure by Lessor of Improper Tender or Delivery; Replacement

  If any tender or delivery by the lessor or the supplier is rejected because nonconforming and the time for performance has not yet expired, the lessor or the supplier may seasonably notify the lessee of the lessor's or the supplier's intention to cure and may then make a conforming delivery within the time provided in the lease contract.    If the lessee rejects a nonconforming tender that the lessor or the supplier had reasonable grounds to believe would be acceptable with or without money allowance, the lessor or the supplier may have a further reasonable time to substitute a conforming tender if he or she seasonably notifies the lessee.     History. Source: L. 91: Entire article added, p. 307, § 1, effective July 1, 1992.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-508.   Changes: Revised to reflect leasing practices and terminology.   Definitional Cross References:   “Conforming”. Section 2A-103(1)(d).   “Delivery”. Section 1-201(14).   “Lease contract”. Section 2A-103(1)(l).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Money”. Section 1-201(24).   “Notifies”. Section 1-201(26).   “Reasonable time”. Section 1-204(1) and (2).   “Seasonably”. Section 1-204(3).   “Supplier”. Section 2A-103(1)(x).
CO Code § 4-2.5-514 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 2.5 - Leases|Part 5 - Default|§ 4-2.5-514. Waiver of Lessee's Objections

  In rejecting goods, a lessee's failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from relying on the defect to justify rejection or to establish default:   If, stated seasonably, the lessor or the supplier could have cured it (section 4-2.5-513); or    Between merchants if the lessor or the supplier after rejection has made a request in writing for a full and final written statement of all defects on which the lessee proposes to rely.       A lessee's failure to reserve rights when paying rent or other consideration against documents precludes recovery of the payment for defects apparent in the documents.     History. Source: L. 91: Entire article added, p. 307, § 1, effective July 1, 1992. L. 2006: (2) amended, p. 494, § 18, effective September 1.    OFFICIAL COMMENT   Uniform Statutory Source: Section 2-605.   Changes: Revised to reflect leasing practices and terminology.   Purposes: The principles applicable to the commercial practice of payment against documents (subsection 2) are explained in official comment 4 to Section 2-605, the statutory analogue to this section.   Cross Reference:   Section 2-605 official comment 4.   Definitional Cross References:   “Between merchants”. Section 2-104(3).   “Goods”. Section 2A-103(1)(h).   “Lessee”. Section 2A-103(1)(n).   “Lessor”. Section 2A-103(1)(p).   “Rights”. Section 1-201(36).   “Seasonably”. Section 1-204(3).   “Supplier”. Section 2A-103(1)(x).   “Writing”. Section 1-201(46).