§ 2A-513 — Cure by lessor of improper tender or delivery; replacement

Illinois § 2A-513

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 810: COMMERCIAL CODE
• Act 810 ILCS 5/: Uniform Commercial Code.
• Art.: Article 2A - Leases

Text

(1) If any tender or delivery by the lessor or the supplier is rejected because nonconforming and the time for performance has not yet expired, the lessor or the supplier may seasonably notify the lessee of the lessor's or the supplier's intention to cure and may then make a conforming delivery within the time provided in the lease contract. (2) If the lessee rejects a nonconforming tender that the lessor or the supplier had reasonable grounds to believe would be acceptable with or without money allowance, the lessor or the supplier may have a further reasonable time to substitute a conforming tender if he or she seasonably notifies the lessee.

Legislative History

(Source: P.A. 87-493.)