§2-1529. Lessor's action for the rent








(1). 
 
After default by the lessee under the lease contract of the type described in section
2-1523, subsection (1) or section 2-1523, subsection (3), paragraph (a) or, if agreed,
after other default by the lessee, if the lessor complies with subsection (2), the
lessor may recover from the lessee as damages:





(a). For goods accepted by the lessee and not repossessed by or tendered to the lessor,
and for conforming goods lost or damaged within a commercially reasonable time after
risk of loss passes to the lessee (section 2-1219):



(i) Accrued and unpaid rent as of the date of entry of judgment in favor of the
lessor;






(ii) The present value as of the same date of the rent for the then remaining lease
term of the lease agreement; and






(iii) Any incidental damages allowed under section 2-1530 minus expenses saved in
consequence of the lessee's default; and [1991, c. 805, §4 (NEW).]













(b). For goods identified to the lease contract if the lessor is unable after reasonable
effort to dispose of them at a reasonable price or the circumstances reasonably indicate
that effort will be unavailing:



(i) Accrued and unpaid rent as of the date of entry of judgment in favor of the
lessor;






(ii) The present value as of the same date of the rent for the then remaining lease
term of the lease agreement; and






(iii) Any incidental damages allowed under section 2-1530 minus expenses saved in
consequence of the lessee's default. [1991, c. 805, §4 (NEW).]










[
1991, c. 805, §4 (NEW)
.]








(2). 
 
Except as provided in subsection (3), the lessor shall hold for the lessee for the
remaining lease term of the lease agreement any goods that have been identified to
the lease contract and are in the lessor's control.


[
1991, c. 805, §4 (NEW)
.]








(3). 
 
The lessor may dispose of the goods at any time before collection of the judgment
for damages obtained pursuant to subsection (1). If the disposition is before the
end of the remaining lease term of the lease agreement, the lessor's recovery against
the lessee for damages is governed by section 2-1527 or section 2-1528, and the lessor
will cause an appropriate credit to be provided against a judgment for damages to
the extent that the amount of the judgment exceeds the recovery available pursuant
to section 2-1527 or section 2-1528.


[
1991, c. 805, §4 (NEW)
.]








(4). 
 
Payment of the judgment for damages obtained pursuant to subsection (1) entitles
the lessee to the use and possession of the goods not then disposed of for the remaining
lease term of and in accordance with the lease agreement.


[
1991, c. 805, §4 (NEW)
.]








(5). 
 
After a lessee has wrongfully rejected or revoked acceptance of goods, has failed
to pay rent then due or has repudiated (section 2-1402) a lessor who is held not entitled
to rent under this section must be awarded damages for nonacceptance under sections
2-1527 and 2-1528.


[
1991, c. 805, §4 (NEW)
.]





SECTION HISTORY

1991, c. 805, §4 (NEW).