{"data":{"id":"us-ky/krs-355.2a-523","jurisdiction":"us-ky","citation":"KRS 355.2A-523","heading":"Lessor's remedies.","body":"(1) If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a\npayment when due or repudiates with respect to a part or the whole, then, with\nrespect to any goods involved, and with respect to all of the goods if under an\ninstallment leas e contract the value of the whole lease contract is substantially\nimpaired (KRS 355.2A-510), the lessee is in default under the lease contract and the\nlessor may:\n(a) Cancel the lease contract (subsection (1) of KRS 355.2A-505);\n(b) Proceed respecting good s not identified to the lease contract (KRS 355.2A -\n524);\n(c) Withhold delivery of the goods and take possession of goods previously\ndelivered (KRS 355.2A-525);\n(d) Stop delivery of the goods by any bailee (KRS 355.2A-526);\n(e) Dispose of the goods and reco ver damages (KRS 355.2A -527), or retain the\ngoods and recover damages (KRS 355.2A -528), or in a proper case recover\nrent (KRS 355.2A-529);\n(f) Exercise any other rights or pursue any other remedies provided in the lease\ncontract.\n(2) If a lessor does not f ully exercise a right or obtain a remedy to which the lessor is\nentitled under subsection (1), the lessor may recover the loss resulting in the\nordinary course of events from the lessee's default as determined in any reasonable\nmanner, together with incide ntal damages, less expenses saved in consequence of\nthe lessee's default.\n(3) If a lessee is otherwise in default under a lease contract, the lessor may exercise the\nrights and pursue the remedies provided in the lease contract, which may include a\nright to cancel the lease. In addition, unless otherwise provided in the lease contract:\n(a) If the default substantially impairs the value of the lease contract to the lessor,\nthe lessor may exercise the rights and pursue the remedies provided in\nsubsection (1) or (2); or\n(b) If the default does not substantially impair the value of the lease contract to\nthe lessor, the lessor may recover as provided in subsection (2).","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33419","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:43Z","sha256":"21ca777b1c0986c13c25943f86d0890dc15e62df1d8c5862b2ee40857151ad17","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2a-522","next":"us-ky/krs-355.2a-524"},"notice":"GroundRules: Original legal text. Not legal advice."}