§ 28:2A-505. Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies.
-
Current through October 23, 2012
(a) 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.
(b) 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.
(c) 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.
(d) Rights and remedies for material misrepresentation or fraud include all rights and remedies available under this article for default.
(e) 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.
(July 22, 1992, D.C. Law 9-128, § 2(b), 39 DCR 3830.)
HISTORICAL AND STATUTORY NOTES
UNIFORM COMMERCIAL CODE 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).
Prior Codifications
1981 Ed., § 28:2A-505.
Legislative History of Laws
For legislative history of D.C. Law 9-128, see Historical and Statutory Notes following § 28:2A-101.
