(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 2A.510), the lessee is in default under the lease contract and the lessor may:
(6) exercise any other rights or pursue any other remedies provided in the lease contract.
(b) If a lessor does not fully exercise a right or obtain a remedy to which the lessor
is entitled under Subsection (a), the lessor may recover the loss resulting in the
ordinary course of events from the lessee's default as determined in any reasonable
manner, together with incidental damages, less expenses saved in consequence of the
(c) If a lessee is otherwise in default under a lease contract, the lessor may exercise
the rights and pursue the remedies provided in the lease contract, which may include
a right to cancel the lease. In addition, unless otherwise provided in the lease contract:
(1) if the default substantially impairs the value of the lease contract to the lessor,
the lessor may exercise the rights and pursue the remedies provided by Subsection
(a) or (b); or
(2) if the default does not substantially impair the value of the lease contract to
the lessor, the lessor may recover as provided by Subsection (b).
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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