{"data":{"id":"us-ms/miss.-code-ann.-75-2a-406","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 75-2A-406","heading":"Procedure on excused performance.","body":"(1) If the lessee receives notification of a material or indefinite delay or an allocation justified under Section 75-2A-405, the lessee may by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (Section 75-2A-510):\n(a) Terminate the lease contract (Section 75-2A-505(2)); or\n(b) Except in a finance lease that is not a consumer lease, modify the lease contract by accepting the available quota in substitution, with due allowance from the rent payable for the balance of the lease term for the deficiency but without further right against the lessor.\n(2) If, after receipt of a notification from the lessor under Section 75-2A-405, the lessee fails so to modify the lease agreement within a reasonable time not exceeding thirty (30) days, the lease contract lapses with respect to any deliveries affected.","path":["Title 75. Regulation of Trade, Commerce and Investments","Chapter 2A. Uniform Commercial Code — Leases","Part 4. Performance of Lease Contract: Repudiated, Substituted and Excused."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.75.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:13Z","sha256":"e9cec69ea982776e832e6909a3db03bc96bc0f07092c96523a14835a1b4a605e","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-75-2a-405","next":"us-ms/miss.-code-ann.-75-2a-407","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}