(1) After default by the lessee under the lease contract of the type described in s. 680.523(1) or (3)(a) or, if agreed, after other default by the lessee, if the lessor complies with subsection (2), the lessor may recover from the lessee as damages:
(a) For goods accepted by the lessee and not repossessed by or tendered to the lessor and for conforming goods lost or damaged after risk of loss passes to the lessee (s. 680.219):
1. Accrued and unpaid rent as of the date of entry of judgment in favor of the lessor.
2. The present value as of the same date of the rent for the then remaining lease term of the lease agreement.
3. Any incidental damages allowed under s. 680.53, less expenses saved in consequence of the lessee’s default.
(b) For goods identified to the lease contract if the lessor is unable after reasonable effort to dispose of them at a reasonable price or the circumstances reasonably indicate that such an effort will be unavailing:
1. Accrued and unpaid rent as of the date of entry of judgment in favor of the lessor.
2. The present value as of the same date of the rent for the then remaining lease term of the lease agreement.
3. Any incidental damages allowed under s. 680.53, less expenses saved in consequence of the lessee’s default.
(2) Except as provided in subsection (3), the lessor shall hold for the lessee for the remaining lease term of the lease agreement any goods that have been identified to the lease contract and are in the lessor’s control.
(3) The lessor may dispose of the goods at any time before collection of the judgment for damages obtained pursuant to subsection (1). If the disposition is before the end of the remaining lease term of the lease agreement, the lessor’s recovery against the lessee for damages is governed by s. 680.527 or s. 680.528, and the lessor will cause an appropriate credit to be provided against any judgment for damages to the extent that the amount of the judgment exceeds the recovery available pursuant to s. 680.527 or s. 680.528.
(4) Payment of the judgment for damages obtained pursuant to subsection (1) entitles the lessee to the use and possession of the goods not then disposed of for the remaining lease term of and in accordance with the lease agreement, provided that the lessee complies with all other terms and conditions of the lease agreement.
(5) After a default by the lessee under the lease contract of the type described in s. 680.523(1) or (3)(a) or, if agreed, after other default by the lessee, a lessor who is held not entitled to rent under this section must nevertheless be awarded damages for nonacceptance under ss. 680.527 and 680.528.
History.—s. 1, ch. 90-278; s. 45, ch. 98-11.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 680 - Uniform Commercial Code: Leases
Part V - Default (Ss. 680.501-680.532)
680.502 - Notice after default.
680.503 - Modification or impairment of rights and remedies.
680.504 - Liquidation of damages.
680.506 - Statute of limitation.
680.507 - Proof of market rent; time and place.
680.509 - Lessee’s rights on improper delivery; rightful rejection.
680.51 - Installment lease contracts: rejection and default.
680.511 - Merchant lessee’s duties as to rightfully rejected goods.
680.512 - Lessee’s duties as to rightfully rejected goods.
680.513 - Cure by lessor of improper tender or delivery; replacement.
680.514 - Waiver of lessee’s objections.
680.515 - Acceptance of goods.
680.517 - Revocation of acceptance of goods.
680.518 - Cover; substitute goods.
680.52 - Lessee’s incidental and consequential damages.
680.521 - Lessee’s right to specific performance or replevin.
680.522 - Lessee’s right to goods on lessor’s insolvency.
680.524 - Lessor’s right to identify goods to lease contract.
680.525 - Lessor’s right to possession of goods.
680.526 - Lessor’s stoppage of delivery in transit or otherwise.
680.527 - Lessor’s rights to dispose of goods.
680.528 - Lessor’s damages for nonacceptance or repudiation.
680.529 - Lessor’s action for the rent.
680.53 - Lessor’s incidental damages.
680.531 - Standing to sue third parties for injury to goods.