(1) Subject to the provisions of Section 2A-510 on default in installment lease contracts, if the goods or the tender or delivery fail in any respect to conform to the lease contract, the lessee may reject or accept the goods or accept any commercial unit or units and reject the rest of the goods.
(2) Rejection of goods is ineffective unless it is within a reasonable time after tender or delivery of the goods and the lessee seasonably notifies the lessor.
History: 1978 Comp., § 55-2A-509, enacted by Laws 1992, ch. 114, § 64.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Uniform Statutory Source: — Sections 2-601 and 2-602(1) [55-2-601 and 55-2-602 NMSA 1978, respectively].
Changes: — Revised to reflect leasing practices and terminology.
"Commercial unit". Section 2A-103(1)(c) [55-2A-103 NMSA 1978].
"Conforming". Section 2A-103(1)(d) [55-2A-103 NMSA 1978].
"Delivery". Section 1-201(14) [55-1-201 NMSA 1978].
"Goods". Section 2A-103(1)(h) [55-2A-103 NMSA 1978].
"Installment lease contract". Section 2A-103(1)(i) [55-2A-103 NMSA 1978].
"Lease contract". Section 2A-103(1)(l) [55-2A-103 NMSA 1978].
"Lessee". Section 2A-103(1)(n) [55-2A-103 NMSA 1978].
"Lessor". Section 2A-103(1)(p) [55-2A-103 NMSA 1978].
"Notifies". Section 1-201(26) [55-1-201 NMSA 1978].
"Reasonable time". Section 1-204(1) and (2) [55-1-204 NMSA 1978].
"Rights". Section 1-201(36) [55-1-201 NMSA 1978].
"Seasonably". Section 1-204(3) [55-1-204 NMSA 1978].
Effective dates. — Laws 1992, ch. 114, § 238 made Laws 1992, ch. 114, § 64 effective July 1, 1992.
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