Nebraska Uniform Commercial Code 2A-502

UCC 2A-502

2A-502.

Notice after default.

Except as otherwise provided in this article or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement.

Source

  • Laws 1991, LB 159, § 52.

Annotations

  • COMMENT

  • Uniform Statutory Source: None.

  • Purposes:

  • This section makes clear that absent agreement to the contrary or provision in this article to the contrary, e.g., section 2A-516(3)(a), the party in default is not entitled to notice of default or enforcement. While a review of part 6 of article 9 leads to the same conclusion with respect to giving notice of default to the debtor, it is never stated. Although article 9 requires notice of disposition and strict foreclosure, the different scheme of lessors' and lessees' rights and remedies developed under the common law, and codified by this article, generally does not require notice of enforcement; furthermore, such notice is not mandated by due process requirements. However, certain sections of this article do require notice. E.g., section 2A-517(4).

  • Cross References:

  • Sections 2A-516(3)(a) and 2A-517(4) and article 9, especially part 6.

  • Definitional Cross References:

  • "Lease agreement". Section 2A-103(1)(k).

  • "Lease contract". Section 2A-103(1)(l).

  • "Lessee". Section 2A-103(1)(n).

  • "Lessor". Section 2A-103(1)(p).

  • "Notice". Section 1-201(25).

  • "Party". Section 1-201(29).