O.C.G.A.

11-2A-503 (2019)

Modification or impairment of rights and remedies

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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(1) Except as otherwise provided in this article, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this article and may limit or alter the measure of damages recoverable under this article.

(2) Resort to a remedy provided under this article or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this article.

(3) Consequential damages may be liquidated under Code Section 11-2A-504, or may otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion is unconscionable. Limitation, alteration, or exclusion of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable but limitation, alteration, or exclusion of damages where the loss is commercial is not prima facie unconscionable.

(4) Rights and remedies on default by the lessor or the lessee with respect to any obligation or promise collateral or ancillary to the lease contract are not impaired by this article.

History

Code 1981, § 11-2A-503, enacted by Ga. L. 1993, p. 633, § 1.

Annotations

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 2A-503.

Notes of Decisions

Cited in 1 case, 2000–2000 · leading case: Lamar v. Mitsubishi Motors Credit of Am., Inc. (In Re Lamar), 249 B.R. 822 (Bankr. S.D. Ga. 2000).

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Lamar v. Mitsubishi Motors Credit of Am., Inc. (In Re Lamar), 249 B.R. 822 (Bankr. S.D. Ga. 2000). · cites it 2× “O.C.G.A. § 11-2A-503(1) 5 . Here, the Lease granted no right to redeem if Debtors were in default.”

— 11-2A-503(1) — 1 case

Lamar v. Mitsubishi Motors Credit of Am., Inc. (In Re Lamar), 249 B.R. 822 (Bankr. S.D. Ga. 2000). “O.C.G.A. § 11-2A-503(1) 5 . Here, the Lease granted no right to redeem if Debtors were in default.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.