Sec. 42a-2A-718. Lessor's right to identify goods to lease contract despite default or to salvage unfinished goods.
Sec. 42a-2A-718. Lessor's right to identify goods to lease contract despite default or to salvage unfinished goods. (a) Upon default by the lessee under the lease
contract of the type described in subsection (a) or subdivision (1) of subsection (c) of
section 42a-2A-716 or, if agreed, after other default by the lessee, the lessor may:
(1) Identify to the lease contract conforming goods not already identified if they
are in the lessor's or supplier's possession or control at the time the lessor learned of
the default; and
(2) Dispose of goods that are shown to have been intended for the particular lease
contract even if such goods are unfinished.
(b) If goods are unfinished at the time of default, an aggrieved lessor or the supplier,
in the exercise of reasonable commercial judgment for the purposes of minimizing loss
and of effective realization, may complete the manufacture and wholly identify the
goods to the lease contract, cease manufacture and lease, sell or otherwise dispose of
the goods for scrap or salvage value, or proceed in any other reasonable manner.
(P.A. 02-131, S. 71.)