8.2A-503 - A-503. Modification or impairment of rights and remedies. - Virginia Statutes

§ 8.2A-503. Modification or impairment of rights and remedies.

(1) Except as otherwise provided in this title, the lease agreement mayinclude rights and remedies for default in addition to or in substitution forthose provided in this title and may limit or alter the measure of damagesrecoverable under this title.

(2) Resort to a remedy provided under this title or in the lease agreement isoptional unless the remedy is expressly agreed to be exclusive. Ifcircumstances cause an exclusive or limited remedy to fail of its essentialpurpose, or provision for an exclusive remedy is unconscionable, remedy maybe had as provided in this title.

(3) Consequential damages may be liquidated under § 8.2A-504, or mayotherwise be limited, altered, or excluded unless the limitation, alteration,or exclusion is unconscionable. Limitation, alteration, or exclusion ofconsequential damages for injury to the person in the case of consumer goodsis prima facie unconscionable but limitation, alteration or exclusion ofdamages where the loss is commercial is not prima facie unconscionable.

(4) Rights and remedies on default by the lessor or the lessee with respectto any obligation or promise collateral or ancillary to the lease contractare not impaired by this title.

(1991, c. 536.)