70A-2a-503 - Modification or impairment of rights and remedies.
70A-2a-503. Modification or impairment of rights and remedies.
(1) Except as otherwise provided in this chapter, the lease agreement may include rightsand remedies for default in addition to or in substitution for those provided in this chapter andmay limit or alter the measure of damages recoverable under this chapter.
(2) Resort to a remedy provided under this chapter or in the lease agreement is optionalunless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive orlimited remedy to fail of its essential purpose, or provision for an exclusive remedy isunconscionable, remedy may be had as provided in this chapter.
(3) Consequential damages may be liquidated under Section 70A-2a-504, or mayotherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion isunconscionable. Limitation, alteration, or exclusion of consequential damages for injury to theperson in the case of consumer goods is prima facie unconscionable, but limitation, alteration, orexclusion of damages where the loss is commercial is not prima facie unconscionable.
(4) Rights and remedies on default by the lessor or the lessee with respect to anyobligation or promise collateral or ancillary to the lease contract are not impaired by this chapter.
Amended by Chapter 237, 1993 General Session