There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 2A Leases
355.2A.405 Excused performances.
Download pdf(1) Delay in delivery or nondelivery in whole or in part by a lessor or a supplier who complies with subsections (2) and (3) is not a default under the lease contract if
performance as agreed has been made impracticable by the occurrence of a
contingency the nonoccurrence of which was a basic assumption on which the lease
contract was made or by compliance in good faith with any applicable foreign or
domestic governmental regulation or order, whether or not the regulation or order
later proves to be invalid. (2) If the causes mentioned in subsection (1) affect only part of the lessor's or the supplier's capacity to perform, he shall allocate production and deliveries among his
customers but at his option may include regular customers not then under contract
for sale or lease as well as his own requirements for further manufacture. He may so
allocate in any manner that is fair and reasonable. (3) The lessor seasonably shall notify the lessee and in the case of a finance lease the supplier seasonably shall notify the lessor and the lessee, if known, that there will
be delay or nondelivery and, if allocation is required under subsection (2), of the
estimated quota thus made available for the lessee. Effective: January 1, 1991
History: Created 1990 Ky. Acts ch. 363, sec. 45, effective January 1, 1991.
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