47-2A528. Lessor's damages for nonacceptance,
failure to pay, repudiation or other default
A. Except as otherwise provided with respect to damages liquidated in the lease
agreement (section 47-2A504) or otherwise determined pursuant to agreement of the parties
(sections 47-1302 and 47-2A503), if a lessor elects to retain the goods or a lessor
elects to dispose of the goods and the disposition is by lease agreement that for any
reason does not qualify for treatment under section 47-2A527, subsection B, or is by sale
or otherwise, the lessor may recover from the lessee as damages for a default of the type
described in section 47-2A523, subsection A or subsection C, paragraph 1, or, if agreed,
for other default of the lessee:
1. Accrued and unpaid rent as of the date of default if the lessee has never taken
possession of the goods, or, if the lessee has taken possession of the goods, as of the
date the lessor repossesses the goods or an earlier date on which the lessee makes a
tender of the goods to the lessor;
2. The present value as of the date determined under paragraph 1 of the total rent
for the then remaining lease term of the original lease agreement minus the present value
as of the same date of the market rent at the place where the goods are located computed
for the same lease term; and
3. Any incidental damages allowed under section 47-2A530, less expenses saved in
consequence of the lessee's default.
B. If the measure of damages provided in subsection A of this section is inadequate
to put a lessor in as good a position as performance would have, the measure of damages
is the present value of the profit, including reasonable overhead, the lessor would have
made from full performance by the lessee, together with any incidental damages allowed
under section 47-2A530, due allowance for costs reasonably incurred and due credit for
payments or proceeds of disposition.
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