North Dakota § 41-02.1-76 (2A-528) Lessor's damages for nonacceptance, failure to pay, repudiation, or other default

North Dakota Statutes

§ 41-02.1-76 — (2A-528) Lessor's damages for nonacceptance, failure to pay, repudiation, or other default

North Dakota § 41-02.1-76

Title 41Uniform Commercial Code

Ch. 41-02.1Leases

This text of North Dakota § 41-02.1-76 ((2A-528) Lessor's damages for nonacceptance, failure to pay, repudiation, or other default) 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 § 41-02.1-76 (2026).

Text

or other default.

1.Except as otherwise provided with respect to damages liquidated in the lease agreement (section 41-02.1-52) or determined by agreement of the parties (sections 41-01-16 and 41-02.1-51), if a lessor elects to retain the goods or a lessor elects to dispose of the goods and disposition is by lease agreement that for any reason does not qualify for treatment under subsection 2 of section 41-02.1-75, or is by sale or otherwise, the lessor may recover from the lessee as damages for a default described in subsection 1 of section 41-02.1-71 or in subdivision a of subsection 3 of section 41-02.1-71, or, if agreed, for other default of the lessee 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 po

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or other default.
1. Except as otherwise provided with respect to damages liquidated in the lease
agreement (section 41-02.1-52) or determined by agreement of the parties (sections
41-01-16 and 41-02.1-51), if a lessor elects to retain the goods or a lessor elects to
dispose of the goods and disposition is by lease agreement that for any reason does
not qualify for treatment under subsection 2 of section 41-02.1-75, or is by sale or
otherwise, the lessor may recover from the lessee as damages for a default described
in subsection 1 of section 41-02.1-71 or in subdivision a of subsection 3 of section
41-02.1-71, or, if agreed, for other default of the lessee 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; the present value, as of the same date, 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 rent under the new lease agreement applicable to that period of the new
lease term which is comparable to the then remaining term of the original lease
agreement; and any incidental damages allowed under section 41-02.1-78, less
expenses saved in consequence of the lessee's default.
2. If the measure of damages provided in subsection 1 is inadequate to put a lessor in as
good a position as performance would have, the measure of damages is the profit,
including reasonable overhead, the lessor would have made from full performance by
the lessee, together with any incidental damages allowed under section 41-02.1-78,
due allowance for costs reasonably incurred and due credit for payments or proceeds
of disposition.