Missouri Revised Statutes













Chapter 400

Uniform Commercial Code

←400.2A-506

Section 400.2A-507.1

400.2A-508→

August 28, 2015

Proof of market rent--time and place.

400.2A-507. (1) Damages based on market rent (Section 400.2A-519 or

400.2A-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

400.2A-519 and 400.2A-528.



(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 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.



(L. 1992 S.B. 448)







Top



Missouri General Assembly



Copyright © Missouri Legislature, all rights reserved.