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Can you summarize NHRS 382-A:2A-519?
UNIFORM COMMERCIAL CODE > Lessee's Damages for Nondelivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the calculation of damages for lessees in cases of nondelivery, repudiation, default, and breach of warranty related to accepted goods. The measure of damages depends on whether the lessee elects to cover or not, and if cover is by lease agreement or purchase. The damages include the present value of the difference between the market rent and the original rent, computed for the remaining lease term, along with incidental and consequential damages, less expenses saved due to the lessor’s default. Market rent is determined at the place for tender or the place of arrival. If the lessee has accepted goods and given notification, damages for nonconforming tender or delivery or other default by the lessor are determined based on the loss resulting in the ordinary course of events, along with incidental and consequential damages, less expenses saved. Damages for breach of warranty are calculated based on the present value of the difference between the value of the use of the goods accepted and the value if they had been as warranted for the lease term, along with incidental and consequential damages, less expenses saved.
Whom does it apply to?
Lessees and lessors involved in lease agreements for goods
What does it govern?
Lessee's damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods
What are exemptions?
Damages liquidated in the lease agreement or otherwise determined pursuant to agreement of the parties
What are the Penalties?
No specific penalties mentioned
Jurisdiction
New Hampshire