The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 2A-220)
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§ 2A—220. Effect of default on risk of loss
(1) Where risk of loss is to pass to the lessee and the time of passage is not stated:
(a) If a tender or delivery of goods so fails to conform to the lease contract as to give
a right of rejection, the risk of their loss remains with the lessor, or, in the case
of a finance lease, the supplier, until cure or acceptance.
(b) If the lessee rightfully revokes acceptance, he or she, to the extent of any deficiency
in his or her effective insurance coverage, may treat the risk of loss as having remained
with the lessor from the beginning.
(2) Whether or not risk of loss is to pass to the lessee, if the lessee as to conforming
goods already identified to a lease contract repudiates or is otherwise in default
under the lease contract, the lessor, or, in the case of a finance lease, the supplier,
to the extent of any deficiency in his or her effective insurance coverage may treat
the risk of loss as resting on the lessee for a commercially reasonable time. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)