NMSA 55-2A-514. Waiver of lessee's objections

55-2A-514. Waiver of lessee's objections. (1) In rejecting goods, a lessee's failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from relying on the defect to justify rejection or to establish default: (a) if, stated seasonably, the lessor or the supplier could have cured it (Section 55-2A-513 NMSA 1978); or (b) between merchants if the lessor or the supplier after rejection has made a request in writing for a full and final written statement of all defects on which the lessee proposes to rely. (2) A lessee's failure to reserve rights when paying rent or other consideration against documents precludes recovery of the payment for defects apparent in the documents. History: 1978 Comp., § 55-2A-514, enacted by Laws 1992, ch. 114, § 69; 2005, ch. 144, § 39. OFFICIAL COMMENTS UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Uniform Statutory Source: — Section 2-605 [55-2-605 NMSA 1978]. Changes: — Revised to reflect leasing practices and terminology. Purposes: 1. The principles applicable to the commercial practice of payment against documents (Subsection 2) are explained in official Comment 4 to Section 2-605 [55-2- 605 NMSA 1978], the statutory analogue to this section. 2. As to the use of a record other than a writing and communications that are not written, see Section 2A-103 [55-2A-103 NMSA 1978], Comment (g). Cross Reference: — Section 2-605 [55-2-605 NMSA 1978] official comment 4. "Between merchants". Section 2-104(3) [55-2-104 NMSA 1978]. "Goods". Section 2A-103(1)(h) [55-2A-103 NMSA 1978]. "Lessee". Section 2A-103(1)(n) [55-2A-103 NMSA 1978]. "Lessor". Section 2A-103(1)(p) [55-2A-103 NMSA 1978]. "Rights". Section 1-201(36) [55-1-201 NMSA 1978]. "Seasonably". Section 1-204(3) [55-1-204 NMSA 1978]. "Supplier". Section 2A-103(1)(x) [55-2A-103 NMSA 1978]. "Writing". Section 1-201(46) [55-1-201 NMSA 1978].