Kentucky Statutes 355.2A-514 – Waiver of lessee’s objections
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(1) In rejecting goods, a lessee‘s failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from relying on the defect to justify rejection or to establish default:
(a) If, stated seasonably, the lessor or the supplier could have cured it (KRS
355.2A-513); or
(b) Between merchants if the lessor or the supplier after rejection has made a request in writing for a full and final written statement of all defects on which the lessee proposes to rely.
(2) A lessee’s failure to reserve rights when paying rent or other consideration against documents precludes recovering of the payment for defects apparent in the documents.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 132, sec. 55, effective July 12, 2012. — Created
1990 Ky. Acts ch. 363, sec. 61, effective January 1, 1991.
(a) If, stated seasonably, the lessor or the supplier could have cured it (KRS
Terms Used In Kentucky Statutes 355.2A-514
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (KRS §. See Kentucky Statutes 355.2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Kentucky Statutes 355.2A-103
355.2A-513); or
(b) Between merchants if the lessor or the supplier after rejection has made a request in writing for a full and final written statement of all defects on which the lessee proposes to rely.
(2) A lessee’s failure to reserve rights when paying rent or other consideration against documents precludes recovering of the payment for defects apparent in the documents.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 132, sec. 55, effective July 12, 2012. — Created
1990 Ky. Acts ch. 363, sec. 61, effective January 1, 1991.