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84-2a-507. Proof of market rent: time and place. (1) Damages based on market rent (K.S.A. 84-2a-519 or 84-2a-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 K.S.A. 84-2a-519 and 84-2a-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 such party 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.

History: L. 1991, ch. 295, ยง 55; February 1, 1992.

KANSAS COMMENT, 1996

Sections 84-2a-519 and 84-2a-528 provide, as a measure of damages for default, that the non-defaulting party may recover the difference between the rent under the lease contract and the market rent. Those sections define the time and place market rent is to be determined. This section states additional rules for proof of market rent, derived from sections 84-2-723 and 84-2-724. It reflects several changes from the statutory analogues. First, the section omits section 84-2-723(1) dealing with anticipatory repudiation, leaving such cases to be dealt with by the general damages rules. Second, the section reflects that the term of a lease is an essential consideration in determining the market rent. Third, subsection (4) is broader than the statutory analogue in that it requires that evidence of prevailing rent in any market, rather than any commodity market, be admitted.


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