☰ Revisor of Missouri

Title XXVI TRADE AND COMMERCE

Chapter 400

< > Effective - 28 Aug 1992    bottom

  400.2A-503.  Modification or impairment of rights and remedies. — (1)  Except as otherwise provided in this Article, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this Article and may limit or alter the measure of damages recoverable under this Article.

  (2)  Resort to a remedy provided under this Article or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive.  If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this Article.

  (3)  Consequential damages may be liquidated under section 400.2A-504, or may otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion is unconscionable.  Limitation, alteration, or exclusion of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable but limitation, alteration, or exclusion 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 any obligation or promise collateral or ancillary to the lease contract are not impaired by this Article.

­­--------

(L. 1992 S.B. 448)


---- end of effective  28 Aug 1992 ----

use this link to bookmark section  400.2A-503


Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House