(1) Subject to subsection (2) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified to a lease contract (section 336.2A-217 ) on making and keeping good a tender of any unpaid portion of the rent and security due under the lease contract may recover the goods identified from the lessor if the lessor becomes insolvent within ten days after receipt of the first installment of rent and security.

This legal document governs the remedies available to the lessor in case of default by the lessee under a lease contract. If the lessee wrongfully rejects or revokes acceptance of goods, fails to make a payment when due, or repudiates with respect to a part or the whole, the lessor may pursue various remedies. These include canceling the lease contract, proceeding with goods not identified to the lease contract, withholding delivery of goods, stopping delivery of goods by any bailee, disposing of the goods and recovering damages, retaining the goods and recovering damages, or recovering rent.

(1) A lessor aggrieved under section 336.2A-523 (1) may: (a) identify to the lease contract conforming goods not already identified if at the time the lessor learned of the default they were in the lessor’s or the supplier’s possession or control; and (b) dispose of goods (section 336.2A-527 (1)) that demonstrably have been intended for the particular lease contract even though those goods are unfinished. (2) If the goods are unfinished, in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier may either complete manufacture and wholly identify the goods to the lease contract or cease manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value or proceed in any other reasonable manner.

(1) If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods. (2) After a default by the lessee under the lease contract of the type described in section 336.2A-523 (1) or 336.2A-523 (3)(a) or, if agreed, after other default by the lessee, the lessor has the right to take possession of the goods. If the lease contract so provides, the lessor may require the lessee to assemble the goods and make them available to the lessor at a place to be designated by the lessor which is reasonably convenient to both parties.

This provision, found in the Minnesota Statutes under the Uniform Commercial Code, governs the ability of a lessor to stop the delivery of goods in the possession of a carrier or other bailee. The lessor is permitted to stop delivery if they discover that the lessee is insolvent or if the lessee repudiates the lease contract or fails to make a payment due before delivery. The lessor may stop delivery until the goods are received by the lessee, acknowledged by a bailee (except a carrier) that holds the goods for the lessee, or acknowledged by a carrier via reshipment or as a warehouse.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, outlines the rights of a lessor to dispose of goods in the event of default by a lessee under a lease contract. The lessor has the option to dispose of the goods through lease, sale, or other means after a lessee’s default or refusal to deliver the goods. If the disposition is done through a lease agreement similar to the original one and in good faith, the lessor may recover accrued and unpaid rent, the present value of the remaining lease term, and any incidental damages allowed.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, addresses the lessor’s damages in cases of nonacceptance, failure to pay, repudiation, or other default by the lessee. The document outlines the damages that the lessor may recover, including accrued and unpaid rent, the present value of the remaining lease term minus the market rent, and any incidental damages. If the measure of damages provided is inadequate, the lessor may claim the present value of the profit they would have made from full performance by the lessee, along with incidental damages and allowances for costs and payments.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, pertains to the lessor’s action for the rent in lease contracts. In case of default by the lessee, the lessor may recover damages from the lessee, including accrued and unpaid rent, the present value of the rent for the remaining lease term, and any incidental damages allowed under the relevant sections. The lessor is required to hold identified goods in their control for the remaining lease term, but may dispose of them before collecting the judgment for damages.

Incidental damages to an aggrieved lessor include any commercially reasonable charges, expenses, or commissions incurred in stopping delivery, in the transportation, care, and custody of goods after the lessee’s default, in connection with return or disposition of the goods, or otherwise resulting from the default. History: 1989 c 232 art 1 s 2A-530

This provision, found in the Minnesota Statutes under the Trade Regulations and Consumer Protection section of the Uniform Commercial Code, addresses the standing to sue third parties for injury to goods. According to this provision, if a third party causes actionable injury to a party to a lease contract by dealing with goods that have been identified to the lease contract, both the lessor and the lessee have a right of action against the third party.