TITLE 6A

Uniform Commercial Code

CHAPTER 6A-2.1

Leases

PART 6A-2.1-501

Default

SECTION 6A-2.1-507



   § 6A-2.1-507  Proof of market rent: Time

and place. –

(1) Damages based on market rent (§ 6A-2.1-519 or 6A-2.1-528) 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 §§ 6A-2.1-519 and 6A-2.1-528.



   (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 chapter 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 chapter 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.



History of Section.

(P.L. 1991, ch. 305, § 1.)