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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>60727</law_id><section_number>8.2A-505</section_number><catch_line>Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>8.2A-406</reference><reference>8.2A-508</reference><reference>8.2A-523</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="8.2A">Commercial Code &#x2014; Leases</unit><unit label="part" level="2" order_by="1" identifier="5">Default</unit><unit label="article" level="3" order_by="1" identifier="A">In General</unit></structure><text>
						<section id="1"><p><span class="prefix-number">1.</span> On cancellation of the lease <span class="dictionary">contract</span>, all obligations that are still executory on both sides are discharged, but any right based on prior <span class="dictionary">default</span> or performance survives, and the cancelling <span class="dictionary">party</span> also retains any remedy for <span class="dictionary">default</span> of the whole lease <span class="dictionary">contract</span> or any unperformed balance. <a id="paragraph-222034" class="section-permalink" href="https://vacode.org/8.2A-505/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> On termination of the lease <span class="dictionary">contract</span>, all obligations that are still executory on both sides are discharged but any right based on prior <span class="dictionary">default</span> or performance survives. <a id="paragraph-222035" class="section-permalink" href="https://vacode.org/8.2A-505/#2"><i class="fa fa-link"/></a></p></section>
						<section id="3"><p><span class="prefix-number">3.</span> Unless the contrary intention clearly appears, expressions of &#x201C;cancellation,&#x201D; &#x201C;rescission,&#x201D; or the like of the lease <span class="dictionary">contract</span> may not be construed as a renunciation or discharge of any claim in <span class="dictionary">damages</span> for an antecedent <span class="dictionary">default</span>. <a id="paragraph-222036" class="section-permalink" href="https://vacode.org/8.2A-505/#3"><i class="fa fa-link"/></a></p></section>
						<section id="4"><p><span class="prefix-number">4.</span> Rights and remedies for <span class="dictionary">material</span> misrepresentation or <span class="dictionary">fraud</span> include all rights and remedies available under this title for <span class="dictionary">default</span>. <a id="paragraph-222037" class="section-permalink" href="https://vacode.org/8.2A-505/#4"><i class="fa fa-link"/></a></p></section>
						<section id="5"><p><span class="prefix-number">5.</span> Neither rescission nor a claim for rescission of the lease <span class="dictionary">contract</span> nor rejection or return of the goods may bar or be deemed inconsistent with a claim for <span class="dictionary">damages</span> or other right or remedy. <a id="paragraph-222038" class="section-permalink" href="https://vacode.org/8.2A-505/#5"><i class="fa fa-link"/></a></p></section></text><history>1991, c. 536.</history><metadata></metadata></law>
