Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
336.2A-505 CANCELLATION AND TERMINATION AND EFFECT OF
CANCELLATION, TERMINATION, RESCISSION, OR FRAUD ON RIGHTS AND
REMEDIES.
(1) On cancellation of the lease contract, all obligations that are still executory on both sides
are discharged, but any right based on prior default or performance survives, and the canceling
party also retains any remedy for default of the whole lease contract or any unperformed balance.
(2) On termination of the lease contract, all obligations that are still executory on both sides
are discharged but any right based on prior default or performance survives.
(3) Unless the contrary intention clearly appears, expressions of "cancellation," "rescission,"
or the like of the lease contract may not be construed as a renunciation or discharge of any claim
in damages for an antecedent default.
(4) Rights and remedies for material misrepresentation or fraud include all rights and
remedies available under this article for default.
(5) Neither rescission nor a claim for rescission of the lease contract nor rejection or return of
the goods may bar or be deemed inconsistent with a claim for damages or other right or remedy.
History: 1989 c 232 art 1 s 2A-505
CANCELLATION, TERMINATION, RESCISSION, OR FRAUD ON RIGHTS AND
REMEDIES.
(1) On cancellation of the lease contract, all obligations that are still executory on both sides
are discharged, but any right based on prior default or performance survives, and the canceling
party also retains any remedy for default of the whole lease contract or any unperformed balance.
(2) On termination of the lease contract, all obligations that are still executory on both sides
are discharged but any right based on prior default or performance survives.
(3) Unless the contrary intention clearly appears, expressions of "cancellation," "rescission,"
or the like of the lease contract may not be construed as a renunciation or discharge of any claim
in damages for an antecedent default.
(4) Rights and remedies for material misrepresentation or fraud include all rights and
remedies available under this article for default.
(5) Neither rescission nor a claim for rescission of the lease contract nor rejection or return of
the goods may bar or be deemed inconsistent with a claim for damages or other right or remedy.
History: 1989 c 232 art 1 s 2A-505
Official Publication of the State of Minnesota
Revisor of Statutes