Arizona § 47-2A524 Lessor's right to identify goods to lease contract

Arizona Statutes

§ 47-2A524 — Lessor's right to identify goods to lease contract

Arizona § 47-2A524

Title 47Arizona Revised Statutes

Ch. 2ALEASES

Art. 5Default

This text of Arizona § 47-2A524 (Lessor's right to identify goods to lease contract) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-2A524 (2026).

Text

A.After default by the lessee under the lease contract of the type described in section 47-2A523, subsection A or section 47-2A523, subsection C, paragraph 1 or, if agreed, after other default by the lessee, the lessor may:

1.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

2.Dispose of goods (section 47-2A527, subsection A) that demonstrably have been intended for the particular lease contract even though those goods are unfinished.

B.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

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A. After default by the lessee under the lease contract of the type described in section 47-2A523, subsection A or section 47-2A523, subsection C, paragraph 1 or, if agreed, after other default by the lessee, the lessor may:

1. 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

2. Dispose of goods (section 47-2A527, subsection A) that demonstrably have been intended for the particular lease contract even though those goods are unfinished.

B. 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.