70A-2a-505 - Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies. - Utah Statutes

70A-2a-505. Cancellation and termination and effect of cancellation, termination,rescission, or fraud on rights and remedies.
(1) On cancellation of the lease contract, all obligations that are still executory on bothsides are discharged, but any right based on prior default or performance survives, and thecancelling party also retains any remedy for default of the whole lease contract or anyunperformed balance.
(2) On termination of the lease contract, all obligations that are still executory on bothsides are discharged, but any right based on prior default or performance survives.
(3) Unless the contrary intention clearly appears, expressions of "cancellation,""rescission," or the like of the lease contract may not be construed as a renunciation or dischargeof any claim in damages for an antecedent default.
(4) Rights and remedies for material misrepresentation or fraud include all rights andremedies available under this chapter for default.
(5) Neither rescission nor a claim for rescission of the lease contract nor rejection orreturn of the goods may bar or be deemed inconsistent with a claim for damages or other right orremedy.

Enacted by Chapter 197, 1990 General Session