Title 11, Chapter 2A, Section 507
( 11-2A-507)
Proof of market rent: Time and place. (1) Damages based on market rent (Code Section 11-2A-519 or 11-2A-528) are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times specified in Code Sections 11-2A-519 and 11-2A-528. (2) If evidence of rent for the use of the goods concerned for a
lease term identical to the remaining lease term of the original
lease agreement and prevailing at the times or places described in
this article is not readily available, the rent prevailing within
any reasonable time before or after the time described or at any
other place or for a different lease term which in commercial
judgment or under usage of trade would serve as a reasonable
substitute for the one described may be used, making any proper
allowance for the difference, including the cost of transporting the
goods to or from the other place. (3) Evidence of a relevant rent prevailing at a time or place or for
a lease term other than the one described in this article offered by
one party is not admissible unless and until he has given the other
party notice the court finds sufficient to prevent unfair surprise. (4) If the prevailing rent or value of any goods regularly leased in
any established market is in issue, reports in official publications
or trade journals or in newspapers or periodicals of general
circulation published as the reports of that market are admissible
in evidence. The circumstances of the preparation of the report may
be shown to affect its weight but not its admissibility. |