§ 70A-2a-501. Default -- Procedure.

(1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter.

(2) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this chapter and, except as limited by this chapter, as provided in the lease agreement.

(3) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration, or the like, in accordance with this chapter.

(4) Except as otherwise provided in Subsection 70A-1a-305(1), in this chapter, or in the lease agreement, the rights and remedies referred to in Subsections (2) and (3) are cumulative.

(5) If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this section as to the goods, or under other applicable law as to both the real property and the goods in accordance with that person's rights and remedies in respect of the real property, in which case this section does not apply.

Amended by Chapter 272, 2007 General Session