New York § 2-A-501 Default: Procedure

New York Statutes

§ 2-A-501 — Default: Procedure

New York § 2-A-501

Law UCCUniform Commercial Code

Part 5Default a In General B Default By Lessor C Default By Lessee

Art. 2-ALeases

This text of New York § 2-A-501 (Default: Procedure) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Uniform Commercial Code § 2-A-501 (2026).

Text

Section 2-A-501. Default: Procedure.\n  (1) Whether the lessor or the lessee is in default under a lease\ncontract is determined by the lease agreement and this Article.\n  (2) If the lessor or the lessee is in default under the lease\ncontract, the party seeking enforcement has rights and remedies as\nprovided in this Article and, except as limited by this Article, as\nprovided in the lease agreement.\n  (3) If the lessor or the lessee is in default under the lease\ncontract, the party seeking enforcement may reduce the party's claim to\njudgment, or otherwise enforce the lease contract by self-help or any\navailable judicial procedure or nonjudicial procedure, including\nadministrative proceeding, arbitration, or the like, in accordance with\nthis Article.\n  (4) Except as otherwise prov

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Section 2-A-501. Default: Procedure.\n (1) Whether the lessor or the lessee is in default under a lease\ncontract is determined by the lease agreement and this Article.\n (2) If the lessor or the lessee is in default under the lease\ncontract, the party seeking enforcement has rights and remedies as\nprovided in this Article and, except as limited by this Article, as\nprovided in the lease agreement.\n (3) If the lessor or the lessee is in default under the lease\ncontract, the party seeking enforcement may reduce the party's claim to\njudgment, or otherwise enforce the lease contract by self-help or any\navailable judicial procedure or nonjudicial procedure, including\nadministrative proceeding, arbitration, or the like, in accordance with\nthis Article.\n (4) Except as otherwise provided in Section 1--305(a) or this Article\nor the lease agreement, the rights and remedies referred to in\nsubsections (2) and (3) are cumulative.\n (5) If the lease agreement covers both real property and goods, the\nparty seeking enforcement may proceed under this part as to the goods,\nor under other applicable law as to both the real property and the goods\nin accordance with that party's rights and remedies in respect of the\nreal property, in which case this part does not apply.\n