North Dakota § 41-02.1-53 (2A-505) Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies

North Dakota Statutes

§ 41-02.1-53 — (2A-505) Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies

North Dakota § 41-02.1-53

Title 41Uniform Commercial Code

Ch. 41-02.1Leases

This text of North Dakota § 41-02.1-53 ((2A-505) Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-02.1-53 (2026).

Text

termination, rescission, or fraud on rights and remedies.

1.On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains any remedy for default of the whole lease contract or any unperformed balance.

2.On termination of the lease contract, all obligations that are still executory on both sides are discharged but any right based on prior default or performance survives.

3.Unless the contrary intention clearly appears, expressions of "cancellation", "rescission", or the like of the lease contract may not be construed as a renunciation or discharge of any claim in damages for an antecedent default.

4.Rights and remedies for material misreprese

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termination, rescission, or fraud on rights and remedies.
1. On cancellation of the lease contract, all obligations that are still executory on both
sides are discharged, but any right based on prior default or performance survives,
and the canceling party also retains any remedy for default of the whole lease contract
or any unperformed balance.
2. On termination of the lease contract, all obligations that are still executory on both
sides are discharged but any right based on prior default or performance survives.
3. Unless the contrary intention clearly appears, expressions of "cancellation",
"rescission", or the like of the lease contract may not be construed as a renunciation or
discharge of any claim in damages for an antecedent default.
4. Rights and remedies for material misrepresentation or fraud include all rights and
remedies available under this chapter for default.
5. Neither rescission nor a claim for rescission of the lease contract nor rejection or
return of the goods may bar or be deemed inconsistent with a claim for damages or
other right or remedy.