Colorado § 4-2.5-523 Lessor's remedies

Colorado Statutes

§ 4-2.5-523 — Lessor's remedies

Colorado § 4-2.5-523

Title 04Uniform

Art.Leases

This text of Colorado § 4-2.5-523 (Lessor's remedies) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 4-2.5-523 (2026).

Text

(1)If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to a part or the whole, then, with respect to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (section 4-2.5-510), the lessee is in default under the lease contract and the lessor may:

(a)Cancel the lease contract (section 4-2.5-505 (1));

(b)Proceed respecting goods not identified to the lease contract (section 4-2.5-524);

(c)Withhold delivery of the goods and take possession of goods previously delivered (section 4-2.5-525);

(d)Stop delivery of the goods by any bailee (section 4-2.5-526);

(e)Dispose of the goods and recover damages (sec

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(1) If a lessee wrongfully rejects or revokes
acceptance of goods or fails to make a payment when due or repudiates with
respect to a part or the whole, then, with respect to any goods involved, and with
respect to all of the goods if under an installment lease contract the value of the
whole lease contract is substantially impaired (section 4-2.5-510), the lessee is in
default under the lease contract and the lessor may:

(a) Cancel the lease contract (section 4-2.5-505 (1));

(b) Proceed respecting goods not identified to the lease contract (section 4-2.5-524);

(c) Withhold delivery of the goods and take possession of goods previously
delivered (section 4-2.5-525);

(d) Stop delivery of the goods by any bailee (section 4-2.5-526);

(e) Dispose of the goods and recover damages (section 4-2.5-527), or retain
the goods and recover damages (section 4-2.5-528), or in a proper case recover
rent (section 4-2.5-529);

(f) Exercise any other rights or pursue any other remedies provided in the
lease contract.

(2) If a lessor does not fully exercise a right or obtain a remedy to which the
lessor is entitled under subsection (1) of this section, the lessor may recover the
loss resulting in the ordinary course of events from the lessee's default as
determined in any reasonable manner, together with incidental damages, less
expenses saved in consequence of the lessee's default.

(3) If a lessee is otherwise in default under a lease contract, the lessor may
exercise the rights and pursue the remedies provided in the lease contract, which
may include a right to cancel the lease. In addition, unless otherwise provided in the
lease contract:

(a) If the default substantially impairs the value of the lease contract to the
lessor, the lessor may exercise the rights and pursue the remedies provided in
subsections (1) or (2) of this section; or

(b) If the default does not substantially impair the value of the lease contract
to the lessor, the lessor may recover as provided in subsection (2) of this section.