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Can you summarize NHRS 382-A:2A-528?
UNIFORM COMMERCIAL CODE > Lessor's Damages for Non-Acceptance, Failure to Pay, Repudiation, or Other Default.
Short Summary
This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the damages that a lessor can recover in case of non-acceptance, failure to pay, repudiation, or other default by the lessee. The lessor has the option to retain or dispose of the goods and can recover damages for the default, including accrued and unpaid rent, the present value of the remaining lease term minus the market rent, and any incidental damages allowed under Section 2A-530. If the measure of damages provided is inadequate, the lessor can claim the present value of the profit they would have made from full performance by the lessee, along with incidental damages and allowances for costs and payments. The provision does not apply to damages liquidated in the lease agreement or determined by agreement of the parties. No specific penalties are mentioned in this provision.
Whom does it apply to?
Lessors and lessees involved in lease agreements
What does it govern?
Lessor's Damages for Non-Acceptance, Failure to Pay, Repudiation, or Other Default
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