North Dakota § 41-02.1-55 (2A-507) Proof of market rent - Time and place

North Dakota Statutes

§ 41-02.1-55 — (2A-507) Proof of market rent - Time and place

North Dakota § 41-02.1-55

Title 41Uniform Commercial Code

Ch. 41-02.1Leases

This text of North Dakota § 41-02.1-55 ((2A-507) Proof of market rent - Time and place) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-02.1-55 (2026).

Text

1.Damages based on market rent (section 41-02.1-67 or 41-02.1-76) 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 time of the default.

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

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1. Damages based on market rent (section 41-02.1-67 or 41-02.1-76) 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 time of
the default.
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 the party has given the other party notice that 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.