§ 4-2.5-507 — Proof of market rent: time and place

Colorado § 4-2.5-507

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Leases

Text

(1) Damages based on
market rent (section 4-2.5-519 or 4-2.5-528) 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 4-2.5-519 and 4-2.5-528.

(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 article 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.

Legislative History

Source: L. 91: Entire article added, p. 303, � 1, effective July 1, 1992.