§ 6A-2.1-524 - Lessor's right to identify goods to lease contract. - Rhode Island Statutes

SECTION 6A-2.1-524

   § 6A-2.1-524  Lessor's right to identifygoods to lease contract. – (1) After default by the lessee under the lease contract of the type describedin § 6A-2.1-523(1) or 6A-2.1-523(3)(a) or, if agreed, after other defaultby the lessee, the lessor may:

   (a) Identify to the lease contract conforming goods notalready identified if at the time the lessor learned of the default they werein the lessor's or the supplier's possession or control; and

   (b) Dispose of goods (§ 6A-2.1-527(1)) that demonstrablyhave been intended for the particular lease contract even though those goodsare unfinished.

   (2) If the goods are unfinished, in the exercise ofreasonable commercial judgment for the purposes of avoiding loss and ofeffective realization, an aggrieved lessor or the supplier may either completemanufacture and wholly identify the goods to the lease contract or ceasemanufacture and lease, sell, or otherwise dispose of the goods for scrap orsalvage value or proceed in any other reasonable manner.