Kentucky Statutes 355.2A-515 – Acceptance of goods
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(1) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods; and
(a) The lessee signifies or acts with respect to the goods in a manner that signifies to the lessor or the supplier that the goods are conforming or that the lessee will take or retain them in spite of their nonconformity; or
(b) The lessee fails to make an effective rejection of the goods (subsection (2) of
KRS 355.2A-509).
(2) Acceptance of a part of any commercial unit is acceptance of that entire unit.
Effective: January 1, 1991
History: Created 1990 Ky. Acts ch. 363, sec. 62, effective January 1, 1991.
(a) The lessee signifies or acts with respect to the goods in a manner that signifies to the lessor or the supplier that the goods are conforming or that the lessee will take or retain them in spite of their nonconformity; or
Terms Used In Kentucky Statutes 355.2A-515
- Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See Kentucky Statutes 355.2A-103
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (KRS §. See Kentucky Statutes 355.2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
- Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Kentucky Statutes 355.2A-103
(b) The lessee fails to make an effective rejection of the goods (subsection (2) of
KRS 355.2A-509).
(2) Acceptance of a part of any commercial unit is acceptance of that entire unit.
Effective: January 1, 1991
History: Created 1990 Ky. Acts ch. 363, sec. 62, effective January 1, 1991.