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-510)
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§ 2A—510. Installment lease contracts: rejection and default
(1) Under an installment lease contract a lessee may reject any delivery that is nonconforming
if the nonconformity substantially impairs the value of that delivery and cannot be
cured or the nonconformity is a defect in the required documents; but if the nonconformity
does not fall within subsection (2) of this section and the lessor or the supplier
gives adequate assurance of its cure, the lessee must accept that delivery.
(2) Whenever nonconformity or default with respect to one or more deliveries substantially
impairs the value of the installment lease contract as a whole there is a default
with respect to the whole. But, the aggrieved party reinstates the installment lease
contract as a whole if the aggrieved party accepts a nonconforming delivery without
seasonably notifying of cancellation or brings an action with respect only to past
deliveries or demands performance as to future deliveries. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)