§ 4-2.5-525 — Lessor's right to possession of goods

Colorado § 4-2.5-525

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

Text

(1) If a lessor discovers
the lessee to be insolvent, the lessor may refuse to deliver the goods.

(2) After a default by the lessee under the lease contract of the type
described in section 4-2.5-523 (1) or 4-2.5-523 (3)(a) or, if agreed, after other
default by the lessee, the lessor has the right to take possession of the goods. If the
lease contract so provides, the lessor may require the lessee to assemble the goods
and make them available to the lessor at a place to be designated by the lessor
which is reasonably convenient to both parties. Without removal, the lessor may
render unusable any goods employed in trade or business, and may dispose of
goods on the lessee's premises (section 4-2.5-527).

(3) The lessor may proceed under subsection (2) of this section without
judicial process if it can be done without breach of the peace or the lessor may
proceed by action.

Legislative History

Source: L. 91: Entire article added, p. 314, � 1, effective July 1, 1992.