Vermont § 503 - § 2A—503.
Full text of Vermont Vermont Statutes Online § 503 — § 2A—503., with citation guidance and answers to common questions.
§ 503. § 2A—503.
- Modification or impairment of rights and remedies (1) Except as otherwise provided in this article, the lease agreement may include rights
and remedies for default in addition to or in substitution for those provided in this
article and may limit or alter the measure of damages recoverable under this article. (2) Resort to a remedy provided under this article or in the lease agreement is optional
unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive
or limited remedy to fail of its essential purpose, or provision for an exclusive
remedy is unconscionable, remedy may be had as provided in this article. (3) Consequential damages may be liquidated under section 2A—504 of this title, or may otherwise be limited, altered, or excluded unless the limitation, alteration,
or exclusion is unconscionable. Limitation, alteration, or exclusion of consequential
damages for injury to the person in the case of consumer goods is prima facie unconscionable
but limitation, alteration, or exclusion of damages where the loss is commercial is
not prima facie unconscionable. (4) Rights and remedies on default by the lessor or the lessee with respect to any obligation
or promise collateral or ancillary to the lease contract are not impaired by this
article. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)
Frequently Asked Questions About Vermont § 503
What does Vermont Statutes Online § 503 cover?
Section 503 ("§ 2A—503.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 503?
A common citation format is "Vermont Statutes Online § 503" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.