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7-2A-406
Section 7-2A-406 Procedure on excused performance. (1) If the lessee receives notification
of a material or indefinite delay or an allocation justified under Section 7-2A-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 7-2A-510): (a) terminate the lease contract (Section 7-2A-505(2));
or (b) except in a finance 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. (2) If, after receipt of
a notification from the lessor under Section 7-2A-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. (Acts 1992, 2nd Ex. Sess., No....
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7-2A-211
Section 7-2A-211 Warranties against interference and against infringement; lessee's obligation
against infringement. (1) There is in a lease contract a warranty that for the lease term
no person holds a claim to or interest in the goods that arose from an act or omission of
the lessor, other than a claim by way of infringement or the like, which will interfere with
the lessee's enjoyment of its leasehold interest. (2) Except in a finance lease there is in
a lease contract by a lessor who is a merchant regularly dealing in goods of the kind a warranty
that the goods are delivered free of the rightful claim of any person by way of infringement
or the like. (3) A lessee who furnishes specifications to a lessor or a supplier shall hold
the lessor and the supplier harmless against any claim by way of infringement or the like
that arises out of compliance with the specifications. (Acts 1992, 2nd Ex. Sess., No. 92-700,
p. 92, §211.)...
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7-2A-213
Section 7-2A-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. (Acts 1992, 2nd Ex. Sess., No. 92-700,
p. 92, §213.)...
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7-2A-405
Section 7-2A-405 Excused performance. Subject to Section 7-2A-404 on substituted performance,
the following rules apply: (a) Delay in delivery or nondelivery in whole or in part by a 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. (b) 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...
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7-2-320
Section 7-2-320 C.I.F. and C. & F. terms. (1) The term C.I.F. means that the price includes
in a lump sum the cost of the goods and the insurance and freight to the named destination.
The term C. & F. or C.F. means that the price so includes cost and freight to the named
destination. (2) Unless otherwise agreed and even though used only in connection with the
stated price and destination, the term C.I.F. destination or its equivalent requires the seller
at his own expense and risk to: (a) Put the goods into the possession of a carrier at the
port for shipment and obtain a negotiable bill or bills of lading covering the entire transportation
to the named destination; and (b) Load the goods and obtain a receipt from the carrier (which
may be contained in the bill of lading) showing that the freight has been paid or provided
for; and (c) Obtain a policy or certificate of insurance, including any war risk insurance,
of a kind and on terms then current at the port of shipment in the usual...
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7-2A-519
Section 7-2A-519 Lessee's damages for nondelivery, repudiation, default, and breach of warranty
in regard to accepted goods. (1) Except as otherwise provided with respect to damages liquidated
in the lease agreement (Section 7-2A-504) or otherwise determined pursuant to agreement of
the parties (Sections 7-1-302 and 7-2A-503), if a lessee elects not to cover or a lessee elects
to cover and the cover is by lease agreement that for any reason does not qualify for treatment
under Section 7-2A-518(2), or is by purchase or otherwise, the measure of damages for nondelivery
or repudiation by the lessor or for rejection or revocation of acceptance by the lessee is
the present value, as of the date of the default, of the then market rent minus the present
value as of the same date of the original rent, computed for the remaining lease term of the
original lease agreement, together with incidental and consequential damages, less expenses
saved in consequence of the lessor's default. (2) Market...
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37-9-20
Section 37-9-20 Certificates for common carriers and permits for contract carriers - Contents;
terms, conditions and limitations; effective date; duration; charter flights; emergency landings,
etc. (a) Each certificate issued under this chapter shall specify the points between which,
or areas within which the person is authorized to engage in operations as a common carrier
by aircraft, the services to be rendered and, in the case of carriage of goods, the commodity
or commodities authorized to be transported. There shall be attached to the exercise of the
privileges granted by such certificate, or amendment thereto, such reasonable terms, conditions
and limitations as the public interest may require; except, that no term, condition or limitation
shall restrict the right of the common carrier by aircraft to add to or change schedules,
equipment, accommodations and facilities for performing the authorized transportation and
service as the development of the business and the demands of...
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7-2-319
Section 7-2-319 F.O.B. and F.A.S. terms. (1) Unless otherwise agreed the term F.O.B. (which
means "free on board") at a named place, even though used only in connection with
the stated price, is a delivery term under which: (a) When the term is F.O.B. the place of
shipment, the seller must at that place ship the goods in the manner provided in this article
(Section 7-2-504) and bear the expense and risk of putting them into the possession of the
carrier; or (b) When the term is F.O.B. the place of destination, the seller must at his own
expense and risk transport the goods to that place and there tender delivery of them in the
manner provided in this article (Section 7-2-503); (c) When under either (a) or (b) the term
is also F.O.B. vessel, car or other vehicle, the seller must in addition at his own expense
and risk load the goods on board. If the term is F.O.B. vessel the buyer must name the vessel
and in an appropriate case the seller must comply with the provisions of this article...
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8-37-2
Section 8-37-2 (Effective January 1, 2018) Definitions. For the purposes of this chapter, the
following words have the following meanings: (1) ADMINISTRATOR. A person, other than an insurer
or creditor, that performs administrative or operational functions pursuant to guaranteed
asset protection waiver programs. (2) BORROWER. A debtor, retail buyer or lessee, under a
finance agreement. (3) CREDITOR means any of the following: a. The lender in a loan or credit
transaction. b. The lessor in a lease transaction. c. Any retail seller of motor vehicles
in a retail installment transaction. d. The seller in commercial retail installment transactions.
e. The assignees of any of the foregoing to whom the credit or lease obligation is payable.
(4) FINANCE AGREEMENT. A loan, lease, or retail installment sales contract for the purchase
or lease of a motor vehicle. (5) FREE LOOK PERIOD. The period of time from the effective date
of the GAP waiver until the date the borrower may cancel the GAP...
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7-2-503
Section 7-2-503 Manner of seller's tender of delivery. (1) Tender of delivery requires that
the seller put and hold conforming goods at the buyer's disposition and give the buyer any
notification reasonably necessary to enable him to take delivery. The manner, time and place
for tender are determined by the agreement and this article, and in particular: (a) Tender
must be at a reasonable hour, and if it is of goods they must be kept available for the period
reasonably necessary to enable the buyer to take possession; but (b) Unless otherwise agreed
the buyer must furnish facilities reasonably suited to the receipt of the goods. (2) Where
the case is within Section 7-2-504 respecting shipment, tender requires that the seller comply
with its provisions. (3) Where the seller is required to deliver at a particular destination,
tender requires that he comply with subsection (1) and also in any appropriate case tender
documents as described in subsections (4) and (5) of this section. (4)...
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