Vermont Statutes
Article 2A - Leases
§ 2A—528. Lessor’s damages for non-acceptance, failure to pay, repudiation, or other default

§ 2A—528. Lessor’s damages for non-acceptance, failure to pay, repudiation, or other default
(1) Except as otherwise provided with respect to damages liquidated in the lease agreement (§ 2A—504) or otherwise determined pursuant to agreement of the parties (§§ 1—302 and 2A—503), if a lessor elects to retain the goods or a lessor elects to dispose of the goods and the disposition is by lease agreement that for any reason does not qualify for treatment under section 2A—527(2) of this title, or is by sale or otherwise, the lessor may recover from the lessee as damages for a default of the type described in section 2A—523(1) or 2A—523(3)(a) of this title, or, if agreed, for other default of the lessee, (i) 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, (ii) the present value as of the date determined under clause (i) 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 market rent at the place where the goods are located computed for the same lease term, and (iii) any incidental damages allowed under section 2A—530 of this title, less expenses saved in consequence of the lessee’s default.
(2) If the measure of damages provided in subsection (1) of this section is inadequate to put a lessor in as good a position as performance would have, the measure of damages is the present value of the profit, including reasonable overhead, the lessor would have made from full performance by the lessee, together with any incidental damages allowed under section 2A—530 of this title, due allowance for costs reasonably incurred and due credit for payments or proceeds of disposition. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995; amended 2007, No. 99 (Adj. Sess.), § 10.)

Structure Vermont Statutes

Vermont Statutes

Title 9A - Uniform Commercial Code

Article 2A - Leases

§ 2A—101. Short title

§ 2A—102. Scope

§ 2A—103. Definitions and index of definitions

§ 2A—104. Leases subject to other law

§ 2A—105. Territorial application of article to goods covered by certificate of title

§ 2A—106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum

§ 2A—107. Waiver or renunciation of claim or right after default

§ 2A—108. Unconscionability

§ 2A—109. Option to accelerate at will

§ 2A—201. Statute of frauds

§ 2A—202. Final written expression; parol or extrinsic evidence

§ 2A—203. Seals inoperative

§ 2A—204. Formation in general

§ 2A—205. Firm offers

§ 2A—206. Offer and acceptance in formation of lease contract

§ 2A—208. Modification, rescission and waiver

§ 2A—209. Lessee under finance lease as beneficiary of supply contract

§ 2A—210. Express warranties

§ 2A—211. Warranties against interference and against infringement; lessee’s obligation against infringement

§ 2A—212. Implied warranty of merchantability

§ 2A—213. Implied warranty of fitness for particular purpose

§ 2A—214. Exclusion or modification of warranties

§ 2A—215. Cumulation and conflict of warranties express or implied

§ 2A—216. Third-party beneficiaries of express and implied warranties

§ 2A—217. Identification

§ 2A—218. Insurance and proceeds

§ 2A—219. Risk of loss

§ 2A—220. Effect of default on risk of loss

§ 2A—221. Casualty to identified goods

§ 2A—301. Enforceability of lease contract

§ 2A—302. Title to and possession of goods

§ 2A—303. Alienability of party’s interest under lease contract or of lessor’s residual interest in goods; delegation of performance; transfer of rights

§ 2A—304. Subsequent lease of goods by lessor

§ 2A—305. Sale or sublease of goods by lessee

§ 2A—306. Priority of certain liens arising by operation of law

§ 2A—307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods

§ 2A—308. Special rights of creditors

§ 2A—309. Lessor’s and lessee’s rights when goods become fixtures

§ 2A—310. Lessor’s and lessee’s rights when goods become accessions

§ 2A—311. Priority subject to subordination

§ 2A—401. Insecurity: adequate assurance of performance

§ 2A—402. Anticipatory repudiation

§ 2A—403. Retraction of anticipatory repudiation

§ 2A—404. Substituted performance

§ 2A—405. Excused performance

§ 2A—406. Procedure on excused performance

§ 2A—407. Irrevocable promises: finance leases

§ 2A—501. Default: procedure

§ 2A—502. Notice after default

§ 2A—503. Modification or impairment of rights and remedies

§ 2A—504. Liquidation of damages

§ 2A—505. Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies

§ 2A—506. Statute of limitations

§ 2A—507. Proof of market rent: time and place

§ 2A—508. Lessee’s remedies

§ 2A—509. Lessee’s rights on improper delivery; rightful rejection

§ 2A—510. Installment lease contracts: rejection and default

§ 2A—511. Merchant lessee’s duties as to rightfully rejected goods

§ 2A—512. Lessee’s duties as to rightfully rejected goods

§ 2A—513. Cure by lessor of improper tender or delivery; replacement

§ 2A—514. Waiver of lessee’s objections

§ 2A—515. Acceptance of goods

§ 2A—516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over

§ 2A—517. Revocation of acceptance of goods

§ 2A—518. Cover; substitute goods

§ 2A—519. Lessee’s damages for non-delivery, repudiation, default, and breach of warranty in regard to accepted goods

§ 2A—520. Lessee’s incidental and consequential damages

§ 2A—521. Lessee’s right to specific performance or replevin

§ 2A—522. Lessee’s right to goods on lessor’s insolvency

§ 2A—523. Lessor’s remedies

§ 2A—524. Lessor’s right to identify goods to lease contract

§ 2A—525. Lessor’s right to possession of goods

§ 2A—526. Lessor’s stoppage of delivery in transit or otherwise

§ 2A—527. Lessor’s rights to dispose of goods

§ 2A—528. Lessor’s damages for non-acceptance, failure to pay, repudiation, or other default

§ 2A—529. Lessor’s action for the rent

§ 2A—530. Lessor’s incidental damages

§ 2A—531. Standing to sue third parties for injury to goods

§ 2A—532. Lessor’s rights to residual interest