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-505)
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§ 2A—505. Cancellation and termination and effect of cancellation, termination, rescission,
or fraud on rights and remedies
(1) On cancellation of the lease contract, all obligations that are still executory on
both sides are discharged, but any right based on prior default or performance survives,
and the cancelling party also retains any remedy for default of the whole lease contract
or any unperformed balance.
(2) On termination of the lease contract, all obligations that are still executory on
both sides are discharged but any right based on prior default or performance survives.
(3) Unless the contrary intention clearly appears, expressions of “cancellation,” “rescission,”
or the like of the lease contract may not be construed as a renunciation or discharge
of any claim in damages for an antecedent default.
(4) Rights and remedies for material misrepresentation or fraud include all rights and
remedies available under this article for default.
(5) Neither rescission nor a claim for rescission of the lease contract nor rejection
or return of the goods may bar or be deemed inconsistent with a claim for damages
or other right or remedy. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)