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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>57869</law_id><section_number>8.2A-524</section_number><catch_line>Lessor&amp;#8217;s right to identify goods to lease contract</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>8.2A-402</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="C">Default by Lessee</unit></structure><text>
						<section id="1"><p><span class="prefix-number">1.</span> A lessor aggrieved under subsection (1) of &#xA7;&#xA0;<a class="law" title="Lessor's remedies" href="/8.2A-523/">8.2A-523</a> may: <a id="paragraph-212002" class="section-permalink" href="https://vacode.org/8.2A-524/#1"><i class="fa fa-link"/></a></p></section>
						<section id="1a" class="indent-1"><p><span class="prefix-number">a.</span> Identify to the lease <span class="dictionary">contract</span> conforming goods not already identified if at the time the lessor learned of the <span class="dictionary">default</span> they were in the lessor&#x2019;s or the supplier&#x2019;s <span class="dictionary">possession</span> or control; and <a id="paragraph-212003" class="section-permalink" href="https://vacode.org/8.2A-524/#1a"><i class="fa fa-link"/></a></p></section>
						<section id="1b" class="indent-1"><p><span class="prefix-number">b.</span> Dispose of goods (subsection (1) of &#xA7; <a class="law" title="Lessor's rights to dispose of goods" href="/8.2A-527/">8.2A-527</a>) that demonstrably have been intended for the particular lease <span class="dictionary">contract</span> even though those goods are unfinished. <a id="paragraph-212004" class="section-permalink" href="https://vacode.org/8.2A-524/#1b"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> If the goods are unfinished, in the exercise of reasonable commercial <span class="dictionary">judgment</span> for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier may either complete manufacture and wholly identify the goods to the lease <span class="dictionary">contract</span> or cease manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value or proceed in any other reasonable manner. <a id="paragraph-212005" class="section-permalink" href="https://vacode.org/8.2A-524/#2"><i class="fa fa-link"/></a></p></section></text><history>1991, c. 536.</history><metadata></metadata></law>
