South Dakota § 57A-2A-519 Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods.

South Dakota Statutes

§ 57A-2A-519 — Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods.

South Dakota·Title 57A UNIFORM COMMERCIAL CODE·Ch. 57A LEASES

(1)Except as otherwise provided with respect to damages liquidated in the lease agreement (§ 57A-2A-504 ) or determined by agreement of the parties (§§ 57A-1-302 and 57A-2A-503 ), if a lessee elects not to cover or a lessee elects to cover and the cover is by lease agreement, whether or not the lease agreement qualifies for treatment under § 57A-2A-518(2), or is by purchase or otherwise, the measure of damages for default by the lessor (§ 57A-2A-508(1)) is the present value as of the date of the default of the difference between the then market rent and the original rent, computed for the remaining lease term of the original lease agreement together with incidental and consequential damages, less expenses saved in consequence of the lessor's default.

(2)Market rent is to be determined

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Except as otherwise provided with respect to damages liquidated in the lease agreement (§ 57A-2A-504 ) or determined by agreement of the parties (§§ 57A-1-302 and 57A-2A-503 ), if a lessee elects not to cover or a lessee elects to cover and the cover is by lease agreement, whether or not the lease agreement qualifies for treatment under § 57A-2A-518(2), or is by purchase or otherwise, the measure of damages for default by the lessor (§ 57A-2A-508(1)) is the present value as of the date of the default of the difference between the then market rent and the original rent, computed for the remaining lease term of the original lease agreement together with incidental and consequential damages, less expenses saved in consequence of the lessor's default. (2) Market rent is to be determined as of the place for tender or, in cases of rejection after arrival or revocation of acceptance, as of the place of arrival. (3) If the lessee has accepted goods and given notification (§ 57A-2A-516(3)), the measure of damages for nonconforming tender or delivery by a lessor is the loss resulting in the ordinary course of events from the lessor's default as determined in any manner that is reasonable together with incidental and consequential damages, less expenses saved in consequence of the lessor's default. (4) The measure of damages for breach of warranty is the present value at the time and place of acceptance of the difference between the value of the use of the goods accepted and the value if they had been as warranted for the lease term, unless special circumstances show proximate damages of a different amount, together with incidental and consequential damages, less expenses saved in consequence of the lessor's default or breach of warranty.

South Dakota § 57A-2A-519 (Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.