Leases (UCC Article 2A) 

North Carolina General Statutes > Chapter 25 > Article 2A > § 25-2A-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 Gen. Stat. 25-2A-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.

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Questions & Answers: Leases (UCC Article 2A)

Under NC commercial leases,does the lease become revolving if landlord does not provide new lease?...

land is leased for a racetrack, tenant constructs a scoreing tower which is a small 2 story building, tenant is leaving and wants to remove tower. Is this a fixture ? ...

Gary, Any building would be considered a fixture. A tenant can in most cases remove a fixture they installed, as long as the land is restored to its original condition. Take a look...

if someone has a fence put in and cements the poles into the ground are they considered a fixture not to be removed?...

See also:

North Carolina General Statutes Chapter 25 > Article 2A - Leases

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