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2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 2A5 - Default
Section 2A501 - Default: procedure

 

 

CHAPTER 2A5

DEFAULT

 

Subchapter

   A.  In General

   B.  Default by Lessor

   C.  Default by Lessee

 

Enactment.  Chapter 2A5 was added July 9, 1992, P.L.507, No.97, effective in one year.

 

 

SUBCHAPTER A

IN GENERAL

 

Sec.

2A501.  Default: procedure.

2A502.  Notice after default.

2A503.  Modification or impairment of rights and remedies.

2A504.  Liquidation of damages.

2A505.  Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies.

2A506.  Statute of limitations.

2A507.  Proof of market rent: time and place.

§ 2A501.  Default: procedure.

(a)  Determination of default.--Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this division.

(b)  Available rights and remedies.--If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this division and, except as limited by this division, as provided in the lease agreement.

(c)  Methods of enforcement of contract.--If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration or the like, in accordance with this division.

(d)  Rights and remedies cumulative.--Except as otherwise provided in section 1305(a) (relating to remedies to be liberally administered) or this division or the lease agreement, the rights and remedies referred to in subsections (b) and (c) are cumulative.

(e)  Agreements covering real property and goods.--If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this chapter as to the goods, or under other applicable law as to both the real property and the goods in accordance with that party's rights and remedies in respect of the real property, in which case this chapter does not apply.

(Apr. 16, 2008, P.L.57, No.13, eff. 60 days)

 

2008 Amendment.  Act 13 amended subsec. (d).

Cross References.  Section 2A501 is referred to in section 2A303 of this title.
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