California Commercial Code

§ 10523

COM § 10523 Effective Jul 15, 1991Div. 10 · Ch. 5 · Art. 3

Statute text

(a)If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to a part or the whole, then, with respect 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 10510), the lessee is in default under the lease contract and the lessor may:

(1)Cancel the lease contract (subdivision (a) of Section 10505);

(2)Proceed respecting goods not identified to the lease contract (Section 10524);

…

Legislative history

Amended by Stats. 1991, Ch. 111, Sec. 61. Effective July 15, 1991.