47-2A501. Default; procedure
A. Whether the lessor or the lessee is in default under a lease contract is
determined by the lease agreement and this chapter.
B. If the lessor or the lessee is in default under the lease contract, the party
seeking enforcement has rights and remedies as provided in this chapter and, except as
limited by this chapter, as provided in the lease agreement.
C. If the lessor or the lessee is in default under the lease contract, the party
seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the
lease contract by self-help or any available judicial procedure or nonjudicial procedure,
including administrative proceeding, arbitration or the like, in accordance with this
article.
D. Except as otherwise provided in section 47-1305, subsection A or this chapter or
the lease agreement, the rights and remedies referred to in subsections B and C of this
section are cumulative.
E. If the lease agreement covers both real property and goods, the party seeking
enforcement may proceed under this article as to the goods, or under other applicable law
as to both the real property and the goods in accordance with that party's rights and
remedies in respect of the real property, in which case this article does not apply.
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