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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

002A

:
Leases











 

§

2A-507. Proof of market rent: time and place

(1) Damages

based on market rent (§ 2A-519 or 2A-528) are determined according to the rent

for the use of the goods concerned for a lease term identical to the remaining

lease term of the original lease agreement and prevailing at the times

specified in sections 2A-519 and 2A-528 of this title.

(2) If evidence

of rent for the use of the goods concerned for a lease term identical to the

remaining lease term of the original lease agreement and prevailing at the

times or places described in this article is not readily available, the rent

prevailing within any reasonable time before or after the time described or at

any other place or for a different lease term which in commercial judgment or

under usage of trade would serve as a reasonable substitute for the one

described may be used, making any proper allowance for the difference,

including the cost of transporting the goods to or from the other place.

(3) Evidence of

a relevant rent prevailing at a time or place or for a lease term other than

the one described in this article offered by one party is not admissible unless

and until he or she has given the other party notice the court finds sufficient

to prevent unfair surprise.

(4) If the

prevailing rent or value of any goods regularly leased in any established

market is in issue, reports in official publications or trade journals or in

newspapers or periodicals of general circulation published as the reports of

that market are admissible in evidence. The circumstances of the preparation of

the report may be shown to affect its weight but not its admissibility. (Added

1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)

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§

2A-507. Proof of market rent: time and placeB. DEFAULT BY LESSOR.