400.2A-524. Lessor's right to identify goods to lease contract. - Missouri Statutes

Lessor's right to identify goods to lease contract.

400.2A-524. (1) A lessor aggrieved under section400.2A-523(1) may:

(a) identify to the lease contract conforming goods notalready identified if at the time the lessor learned of thedefault they were in the lessor's or the supplier's possession orcontrol; and

(b) dispose of goods (Section 400.2A-527(1)) thatdemonstrably have been intended for the particular lease contracteven though those goods are unfinished.

(2) If the goods are unfinished, in the exercise ofreasonable commercial judgment for the purposes of avoiding lossand of effective realization, an aggrieved lessor or the suppliermay either complete manufacture and wholly identify the goods tothe lease contract or cease manufacture and lease, sell, orotherwise dispose of the goods for scrap or salvage value orproceed in any other reasonable manner.

(L. 1992 S.B. 448)