§490:2A-510  Installment lease contracts: 
rejection and default.  (a)  Under an installment lease contract a lessee
may reject any delivery that is nonconforming if the nonconformity
substantially impairs the value of that delivery and cannot be cured or the
nonconformity is a defect in the required documents; but if the nonconformity
does not fall within subsection (b) and the lessor or the supplier gives
adequate assurance of its cure, the lessee must accept that delivery.



(b)  Whenever nonconformity or default with
respect to one or more deliveries substantially impairs the value of the
installment lease contract as a whole there is a default with respect to the
whole.  But, the aggrieved party reinstates the installment lease contract as a
whole if the aggrieved party accepts a nonconforming delivery without
seasonably notifying of cancellation or brings an action with respect only to
past deliveries or demands performance as to future deliveries. [L 1991, c 40,
pt of §1]