§ 4-2.5-517 — Revocation of acceptance of goods

Colorado § 4-2.5-517

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Leases

Text

(1) A lessee may revoke
acceptance of a lot or commercial unit whose nonconformity substantially impairs
its value to the lessee if he or she has accepted it:

(a) Except in the case of a finance lease, on the reasonable assumption that
its nonconformity would be cured and it has not been seasonably cured; or

(b) Without discovery of the nonconformity if the lessee's acceptance was
reasonably induced either by the lessor's assurances or, except in the case of a
finance lease, by the difficulty of discovery before acceptance.

(2) Except in the case of a finance lease that is not a consumer lease, a
lessee may revoke acceptance of a lot or commercial unit if the lessor defaults
under the lease contract and the default substantially impairs the value of that lot
or commercial unit to the lessee.

(3) If the lease agreement so provides, the lessee may revoke acceptance of
a lot or commercial unit because of other defaults by the lessor.

(4) Revocation of acceptance must occur within a reasonable time after the
lessee discovers or should have discovered the ground for it and before any
substantial change in condition of the goods which is not caused by the
nonconformity. Revocation is not effective until the lessee notifies the lessor.

(5) A lessee who so revokes has the same rights and duties with regard to
the goods involved as if the lessee had rejected them.

Legislative History

Source: L. 91: Entire article added, p. 309, � 1, effective July 1, 1992.