§ 2-A-404 — Substituted Performance

New York § 2-A-404

• Jurisdiction: New York
• Law UCC: Uniform Commercial Code
• Part 4: Performance of Lease Contract: Repudiated, Substituted and Excused
• Art. 2-A: Leases

Text

Section 2-A-404. Substituted Performance.\n (1) If without fault of the lessee, the lessor and the supplier, the\nagreed berthing, loading, or unloading facilities fail or the agreed\ntype of carrier becomes unavailable or the agreed manner of delivery\notherwise becomes commercially impracticable, but a commercially\nreasonable substitute is available, the substitute performance must be\ntendered and accepted.\n (2) If the agreed means or manner of payment fails because of domestic\nor foreign governmental regulation:\n (a) the lessor may withhold or stop delivery or cause the\n supplier to withhold or stop delivery unless the lessee\n provides a means or manner of payment that is commercially a\n substantial equivalent; and\n (b) if delivery has already been taken, payment by the means or\n in the manner provided by the regulation discharges the\n lessee's obligation unless the regulation is discriminatory,\n oppressive, or predatory.\n