Vermont Statutes Title 9 Sec. 2a-514
Terms Used In Vermont Statutes Title 9 Sec. 2a-514
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 2A—309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
- Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See
§ 2A—514. Waiver of lessee‘s objections
(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 (§ 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 recovery of the payment for defects apparent in the documents. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995; amended 2015, No. 51, § B.6, eff. June 3, 2015.)