70A-2a-507. Proof of market rent -- Time and place.
(1) Damages based on market rent as provided in Section 70A-2a-519 or 70A-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
Sections 70A-2a-519 and 70A-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 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 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.
Amended by Chapter 237, 1993 General Session
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Last revised: Thursday, May 28, 2009