400.2A-507. Proof of market rent--time and place. - Missouri Statutes

Proof of market rent--time and place.

400.2A-507. (1) Damages based on market rent (Section400.2A-519 or 400.2A-528) are determined according to the rentfor the use of the goods concerned for a lease term identical tothe remaining lease term of the original lease agreement andprevailing at the times specified in sections 400.2A-519 and400.2A-528.

(2) If evidence of rent for the use of the goods concernedfor a lease term identical to the remaining lease term of theoriginal lease agreement and prevailing at the times or placesdescribed in this Article is not readily available, the rentprevailing within any reasonable time before or after the timedescribed or at any other place or for a different lease termwhich in commercial judgment or under usage of trade would serveas a reasonable substitute for the one described may be used,making any proper allowance for the difference, including thecost of transporting the goods to or from the other place.

(3) Evidence of a relevant rent prevailing at a time orplace or for a lease term other than the one described in thisArticle offered by one party is not admissible unless and untilhe has given the other party notice the court finds sufficient toprevent unfair surprise.

(4) If the prevailing rent or value of any goods regularlyleased in any established market is in issue, reports in officialpublications or trade journals or in newspapers or periodicals ofgeneral circulation published as the reports of that market areadmissible in evidence. The circumstances of the preparation ofthe report may be shown to affect its weight but not itsadmissibility.

(L. 1992 S.B. 448)