336.2A-519 LESSEE'S DAMAGES FOR NONDELIVERY, REPUDIATION, DEFAULT,
AND BREACH OF WARRANTY IN REGARD TO ACCEPTED GOODS.
(1) Except as otherwise provided with respect to damages liquidated in the lease agreement
) or otherwise determined pursuant to agreement of the parties (sections
, if a lessee elects not to cover or a lessee elects to cover and the
cover is by lease agreement that for any reason does not qualify for treatment under section
, or is by purchase or otherwise, the measure of damages for nondelivery or
repudiation by the lessor or for rejection or revocation of acceptance by the lessee is the present
value, as of the date of the default, of the then market rent minus the present value as of the same
date of the original rent, computed for the remaining lease term of the original lease agreement,
together with incidental and consequential damages, less expenses saved in consequence of
the lessor's default.
(2) Market rent is to be determined as of the place for tender or, in cases of rejection after
arrival or revocation of acceptance, as of the place of arrival.
(3) Except as otherwise agreed, if the lessee has accepted goods and given notification
, the measure of damages for nonconforming tender or delivery or other
default by a lessor is the loss resulting in the ordinary course of events from the lessor's default as
determined in any manner that is reasonable together with incidental and consequential damages,
less expenses saved in consequence of the lessor's default.
(4) Except as otherwise agreed, the measure of damages for breach of warranty is the present
value at the time and place of acceptance of the difference between the value of the use of the
goods accepted and the value if they had been as warranted for the lease term, unless special
circumstances show proximate damages of a different amount, together with incidental and
consequential damages, less expenses saved in consequence of the lessor's default or breach of
History: 1989 c 232 art 1 s 2A-519; 1991 c 171 art 1 s 16; 2004 c 162 art 2 s 6