Uniform Commercial Code
§ 6A-2.1-507 Proof of market rent: Time
(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.)