{"data":{"id":"us-nc/n.c.-gen.-stat.-25-2a-220","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-2A-220","heading":"Effect of default on risk of loss.","body":"(a)\tWhere risk of loss is to pass to the lessee and the time of passage is not stated:\n(1)\tif a tender or delivery of goods so fails to conform to the lease contract as to give a right of rejection, the risk of their loss remains with the lessor, or, in the case of a finance lease, the supplier, until cure or acceptance.\n(2)\tif the lessee rightfully revokes acceptance, he, to the extent of any deficiency in his effective insurance coverage, may treat the risk of loss as having remained with the lessor from the beginning.\n(b)\tWhether or not risk of loss is to pass to the lessee, if the lessee as to conforming goods already identified to a lease contract repudiates or is otherwise in default under the lease contract, the lessor, or, in the case of a finance lease, the supplier, to the extent of any deficiency in his effective insurance coverage may treat the risk of loss as resting on the lessee for a commercially reasonable time. (1993, c. 463, s. 1; 2025-25, s. 112.)","path":["Chapter 25. Uniform Commercial Code.","Article 2A. Leases.","Part 2. Formation and Construction of Lease Contract."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-2A-220.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"549fd486f5f3226eaa27822718033a829577a6e93343251c6645dbfb5c2dc9be","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-2a-219","next":"us-nc/n.c.-gen.-stat.-25-2a-221"},"notice":"GroundRules: Original legal text. Not legal advice."}