Arizona Laws 47-2A404. Substituted performance
A. If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.
Terms Used In Arizona Laws 47-2A404
- Fault: means wrongful act, omission, breach or default. See Arizona Laws 47-2A103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See Arizona Laws 47-2A103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See Arizona Laws 47-2A103
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Arizona Laws 47-2A103
B. If the agreed means or manner of payment fails because of domestic or foreign governmental regulation:
1. The lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and
2. If delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee’s obligation unless the regulation is discriminatory, oppressive or predatory.