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This entry was published on 2014-09-22
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Modification or Impairment of Rights and Remedies
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 2-A, PART 5
Section 2-A-503. Modification or Impairment of Rights and Remedies.

(1) Except as otherwise provided in this Article, the lease agreement
may include rights and remedies for default in addition to or in
substitution for those provided in this Article and may limit or alter
the measure of damages recoverable under this Article.

(2) Resort to a remedy provided under this Article or in the lease
agreement is optional unless the remedy is expressly agreed to be
exclusive. If circumstances cause an exclusive or limited remedy to fail
of its essential purpose, or provision for an exclusive remedy is
unconscionable, remedy may be had as provided in this Article.

(3) Consequential damages may be liquidated under Section 2-A-504, or
may otherwise be limited, altered, or excluded unless the limitation,
alteration, or exclusion is unconscionable. Limitation, alteration, or
exclusion of consequential damages for injury to the person in the case
of consumer goods is prima facie unconscionable but limitation,
alteration, or exclusion of damages where the loss is commercial is not
prima facie unconscionable.

(4) Rights and remedies on default by the lessor or the lessee with
respect to any obligation or promise collateral or ancillary to the
lease contract are not impaired by this Article.