TITLE 6A

Uniform Commercial Code

CHAPTER 6A-2.1

Leases

PART 6A-2.1-401

Performance of Lease Contract: Repudiated, Substituted, and Excused

SECTION 6A-2.1-404



   § 6A-2.1-404  Substituted performance.

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(1) If without fault of the lessee, the lessor, and the supplier, the agreed

berthing, loading, or unloading facilities fail or the agreed type of carrier

becomes unavailable or the agreed manner of delivery otherwise becomes

commercially impracticable, but a commercially reasonable substitute is

available, the substitute performance must be tendered and accepted.



   (2) If the agreed means or manner of payment fails because of

domestic or foreign governmental regulation:



   (a) The lessor may withhold or stop delivery or cause the

supplier to withhold or stop delivery unless the lessee provides a means or

manner of payment that is commercially a substantial equivalent; and



   (b) If delivery has already been taken, payment by the means

or in the manner provided by the regulation discharges the lessee's obligation

unless the regulation is discriminatory, oppressive, or predatory.



History of Section.

(P.L. 1991, ch. 305, § 1.)