§ 10503. — 10503. (Amended by Stats. 1991, Ch. 111, Sec. 41.)

California § 10503.

• Jurisdiction: California
• Code COM: Commercial Code - COM
• Div. 10.: DIVISION 10. PERSONAL PROPERTY LEASES
• Ch. 5.: CHAPTER 5. Default
• Art. 1.: ARTICLE 1. In General

Text

(a)
Except as otherwise provided in this division, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this division and may limit or alter the measure of damages recoverable under this division.
(b)
Resort to a remedy provided under this division or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this division.
(c)
Consequential damages may be liquidated under Section 10504, or may otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion is unconscionable. Limitation, alteration, or exclusion of consequential damages for injury to the person in the case of consumer goods is prima facie
unconscionable but limitation, alteration, or exclusion of damages where the loss is commercial is not prima facie unconscionable.
(d)
Rights and remedies on default by the lessor or the lessee with respect to any obligation or promise collateral or ancillary to the lease contract are not impaired by this division.

Legislative History

Amended by Stats. 1991, Ch. 111, Sec. 41. Effective July 15, 1991.