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Texas Business & Commerce Code

§ 2A.511 — MERCHANT LESSEE'S DUTIES AS TO RIGHTFULLY REJECTED GOODS

BC § 2A.511Title 1. UNIFORM COMMERCIAL CODE · Ch. 2A. LEASES · Art. E. DEFAULT

Statute text

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Subject to any security interest of a lessee (Section 2A.508(e)), if a lessor or a supplier has no agent or place of business at the market of rejection, a merchant lessee, after rejection of goods in the lessee's possession or control, shall follow any reasonable instructions received from the lessor or the supplier with respect to the goods. In the absence of those instructions, a merchant lessee shall make reasonable efforts to sell, lease, or otherwise dispose of the goods for the lessor's account if they threaten to decline in value speedily. Instructions are not reasonable if on demand indemnity for expenses is not forthcoming.

Legislative history

Added by Acts 1993, 73rd Leg., ch. 570, Sec. 1, eff. Sept. 1, 1993.

Source: Texas Business & Commerce Code § 2A.511 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.