400.2A-503. Modification or impairment of rights and remedies. - Missouri Statutes

Modification or impairment of rights and remedies.

400.2A-503. (1) Except as otherwise provided in thisArticle, the lease agreement may include rights and remedies fordefault in addition to or in substitution for those provided inthis Article and may limit or alter the measure of damagesrecoverable under this Article.

(2) Resort to a remedy provided under this Article or inthe lease agreement is optional unless the remedy is expresslyagreed to be exclusive. If circumstances cause an exclusive orlimited remedy to fail of its essential purpose, or provision foran exclusive remedy is unconscionable, remedy may be had asprovided in this Article.

(3) Consequential damages may be liquidated under section400.2A-504, or may otherwise be limited, altered, or excludedunless the limitation, alteration, or exclusion isunconscionable. Limitation, alteration, or exclusion ofconsequential damages for injury to the person in the case ofconsumer goods is prima facie unconscionable but limitation,alteration, or exclusion of damages where the loss is commercialis not prima facie unconscionable.

(4) Rights and remedies on default by the lessor or thelessee with respect to any obligation or promise collateral orancillary to the lease contract are not impaired by this Article.

(L. 1992 S.B. 448)