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Session Laws, 1994
Volume 773, Page 2535   View pdf image
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WILLIAM DONALD SCHAEFER, Governor                            Ch. 535

(4) THIS SECTION DOES NOT ALTER THE LAW ON TOLLING OF THE STATUTE
OF LIMITATIONS NOR DOES IT APPLY TO CAUSES OF ACTION THAT HAVE ACCRUED
BEFORE THIS ARTICLE BECOMES EFFECTIVE.

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 §§ 2A-519 AND
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 TITLE 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.

B. DEFAULT BY LESSOR

2A-508. LESSEE'S REMEDIES

(1) IF A LESSOR FAILS TO DELIVER THE GOODS IN CONFORMITY TO THE
LEASE CONTRACT (§ 2A-509) OR REPUDIATES THE LEASE CONTRACT (§ 2A-402), OR A
LESSEE RIGHTFULLY REJECTS THE GOODS (§ 2A-509) OR JUSTIFIABLY REVOKES
ACCEPTANCE OF THE GOODS (§ 2A-517), THEN WITH RESPECT TO ANY GOODS
INVOLVED, AND WITH RESPECT TO ALL OF THE GOODS IF UNDER AN INSTALLMENT
LEASE CONTRACT THE VALUE OF THE WHOLE LEASE CONTRACT IS SUBSTANTIALLY
IMPAIRED (§ 2A-510), THE LESSOR IS IN DEFAULT UNDER THE LEASE CONTRACT AND
THE LESSEE MAY:

(A) CANCEL THE LEASE CONTRACT (§ 2A-505(1));

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Session Laws, 1994
Volume 773, Page 2535   View pdf image
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