Colorado Code
Part 5 - Default
§ 4-2.5-528. Lessor's Damages for Nonacceptance, Failure to Pay, Repudiation, or Other Default

Source: L. 91: Entire article added, p. 316, § 1, effective July 1, 1992. L. 2006: (1) amended, p. 495, § 23, effective September 1.
Editor's note: Colorado legislative changes. (1) In subsection (1) of this section, after the words "the same lease term,", Colorado inserted a new clause as follows: "(iii) interest on the sum of the amounts described in clauses (i) and (ii) of this subsection (1) from the date of default to the date of entry of judgment at the same rate used in computing present value,". The third clause was then relettered as clause "(iv)".
(2) In subsection (2) of this section, Colorado deleted the words "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" and substituted the words "At his or her option, the lessor may recover from the lessee as damages for a default of the type described in subsection (1) of this section, in lieu of the damages recoverable under said subsection (1),".
Uniform Statutory Source: Section 2-708.
Changes: Substantially revised.
Purposes:





Cross References:
Sections 1-102(3), 2-708, 2A-103(1)(u), 2A-402, 2A-504, 2A-507, 2A-527(2) and 2A-529.
Definitional Cross References:
"Agreement". Section 1-201(3).
"Goods". Section 2A-103(1)(h).
"Lease". Section 2A-103(1)(j).
"Lease agreement". Section 2A-103(1)(k).
"Lessee". Section 2A-103(1)(n).
"Lessor". Section 2A-103(1)(p).
"Party". Section 1-201(29).
"Present value". Section 2A-103(1)(u).
"Sale". Section 2-106(1).

Structure Colorado Code