400.2A-221. Casualty to identified goods. - Missouri Statutes

Casualty to identified goods.

400.2A-221. If a lease contract requires goods identifiedwhen the lease contract is made, and the goods suffer casualtywithout fault of the lessee, the lessor or the supplier beforedelivery, or the goods suffer casualty before risk of loss passesto the lessee pursuant to the lease agreement or section400.2A-219, then:

(a) if the loss is total, the lease contract is avoided;and

(b) if the loss is partial or the goods have sodeteriorated as to no longer conform to the lease contract, thelessee may nevertheless demand inspection and at his optioneither treat the lease contract as avoided or, except in afinance lease, accept the goods with due allowance from the rentpayable for the balance of the lease term for the deteriorationor the deficiency in quantity but without further right againstthe lessor.

(L. 1992 S.B. 448)