California Commercial Code

§ 10505

COM § 10505 Effective Jul 15, 1991Div. 10 · Ch. 5 · Art. 1

Statute text

(a)On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains any remedy for default of the whole lease contract or any unperformed balance.

(b)On termination of the lease contract, all obligations that are still executory on both sides are discharged but any right based on prior default or performance survives.

(c)Unless the contrary intention clearly appears, expressions of “cancellation,” “rescission,” or the like of the lease contract may not be construed as a renunciation or discharge of any claim in damages for an antecedent default.

…

Legislative history

Amended by Stats. 1991, Ch. 111, Sec. 43. Effective July 15, 1991.