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La. Rev. Stat. § 9:3318

PART IV.  REMEDIES FOLLOWING LESSEE'S DEFAULT

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PART IV.  REMEDIES FOLLOWING LESSEE'S DEFAULT

§3318.  Options of lessor following lessee's default

A.(1)  In the event of default by the lessee under a true lease, or under a financed lease entered into prior to the time Chapter 9 of the Louisiana Commercial Laws becomes effective, the lessor may do any one of the following:

(a)  He may file an appropriate collection action against the lessee to recover accelerated rental payments and additional amounts that are then due and outstanding and that will become due in the future over the full base term of the lease, as provided under R.S. 9:3319.  

(b)  He may cancel the lease, recover possession of the leased property and recover such additional amounts and liquidated damages as may be contractually provided under the lease agreement, as provided under R.S. 9:3320 through 3328.  

(2)  The above remedies following the lessee's default are not cumulative in nature.  The lessor may not seek to collect accelerated rental payments under the lease and also to cancel the lease and recover possession of the leased equipment.  

B.   In the event of default by the lessee under a financed lease entered into after Chapter 9 of the Louisiana Commercial Laws becomes effective, the lessor may at his option:

(1)  Exercise such rights and remedies following default as are provided under this Chapter; or

(2)  Exercise such rights and remedies following default as are provided under Chapter 9 of the Louisiana Commercial Laws.  

Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1989, No. 137, §4, eff. Sept. 1, 1989.  

Notes of Decisions
Cited in 9 cases, 1986–2007 · leading case: Koonce v. Dousay
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Koonce v. Dousay (2007) lactapp “R.S. 9:3318, [5] to terminate the lease agreement and recover possession of the truck and crane.”
At & T Information Systems, Inc. v. Smith (1991) lactapp · cites it 2× “Remedies Following Lessee's Default" is found R.S. 9:3318— Options of lessor following lessee's default, which provides: A.”
McFillen Rent-A-Car, Inc. v. Brierty (1993) lactapp · cites it 2× “R.S. 9:3318(A). (footnote omitted) The plaintiff argues that these provisions are not applicable to the Jaguar lease because Brierty’s unilateral decision to return the vehicle took from McFillen its option to accelerate lease payments and leave Brierty in possession of the…”
WALNUT EQUIPMENT LEASING v. Moreno (1994) lactapp “R.S. 9:3318 through 3330 (1994). This is so even if the lease agreement provides that the transaction is to be governed by the laws of another state.”
Day Leasing & Insurance, Inc. v. Hart (1993) lactapp “R.S. 9:3318, which reads in pertinent part: A.”
Campbell v. Pipe Technology, Inc. (1986) lactapp “9:3261 (current version at LSA-R.S. 9:3318), a lessor must elect to sue for future rentals or the return of the leased property.”
Blackledge v. Vinet (1989) lactapp “00 per month and the stipulation between the parties that five monthly payments were late.”
Cenval Leasing Corp. v. Nunnery (1991) lactapp “However, the contract of lease entered into by the parties provided that upon termination of the lease, the lessee would be liable for the Adjusted Lease Balance on the vehicle less its Realized Value.”
General Electric Capital Auto Lease, Inc. v. Jackson (1991) lactapp “The object of GECAL’s action is to recover possession of the leased car, a remedy that is available under LRS 9:3318 only when the lessor has elected to cancel the lease.”
— La. Rev. Stat. § 9:3318(A) — 1 case
McFillen Rent-A-Car, Inc. v. Brierty (1993) lactapp “R.S. 9:3318(A). (footnote omitted) The plaintiff argues that these provisions are not applicable to the Jaguar lease because Brierty’s unilateral decision to return the vehicle took from McFillen its option to accelerate lease payments and leave Brierty in possession of the…”
— La. Rev. Stat. § 9:3318(A)(1)(b) — 1 case
At & T Information Systems, Inc. v. Smith (1991) lactapp “Remedies Following Lessee's Default" is found R.S. 9:3318— Options of lessor following lessee's default, which provides: A.”
— La. Rev. Stat. § 9:3318(A)(l)(b) — 1 case
McFillen Rent-A-Car, Inc. v. Brierty (1993) lactapp “R.S. 9:3318(A). (footnote omitted) The plaintiff argues that these provisions are not applicable to the Jaguar lease because Brierty’s unilateral decision to return the vehicle took from McFillen its option to accelerate lease payments and leave Brierty in possession of the…”
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