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Can you summarize NHRS 382-A:2A-405?
UNIFORM COMMERCIAL CODE > Excused Performance.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, specifically Chapter 382-A, governs the concept of excused performance in lease contracts. According to the document, if a lessor or supplier is unable to deliver or delays delivery due to a contingency that was not anticipated when the lease contract was made, or due to compliance with valid governmental regulations or orders, it will not be considered a default under the lease contract. The lessor or supplier must allocate production and deliveries among customers, including regular customers not under contract, in a fair and reasonable manner. The lessor must notify the lessee of any delay or nondelivery, and in the case of a finance lease, the supplier must also notify the lessor and lessee if known. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
Lessor, supplier, lessee, finance lease
What does it govern?
Excused Performance
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire