Idaho State Statutes - Idaho Attorney Directory

(1) After a default by a
lessee under the lease contract of the type described in section 28-12-523(1)
or 28-12-523(3)(a) or after the lessor refuses to deliver or takes possession
of goods (section 28-12-525 or 28-12-526), or, if agreed, after other default
by a lessee, the lessor may dispose of the goods concerned or the undelivered
balance thereof by lease, sale or otherwise.
(2) Except as otherwise provided with respect to damages liquidated in
the lease agreement (section 28-12-504) or otherwise determined pursuant to
agreement of the parties (sections 28-1-302 and 28-12-503), if the
disposition is by lease agreement substantially similar to the original lease
agreement and the new lease agreement is made in good faith and in a
commercially reasonable manner, the lessor may recover from the lessee as
damages (i) accrued and unpaid rent as of the date of the commencement of the
term of the new lease agreement, (ii) the present value, as of the same date,
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 rent under the
new lease agreement applicable to that period of the new lease term which is
comparable to the then remaining term of the original lease agreement, and
(iii) any incidental damages allowed under section 28-12-530, less expenses
saved in consequence of the lessee's default.
(3) If the lessor's disposition is by lease agreement that for any reason
does not qualify for treatment under the provisions of subsection (2) of this
section, or is by sale or otherwise, the lessor may recover from the lessee as
if the lessor had elected not to dispose of the goods and section 28-12-528
governs.
(4) A subsequent buyer or lessee who buys or leases from the lessor in
good faith for value as a result of a disposition under the provisions of this
section takes the goods free of the original lease contract and any rights of
the original lessee even though the lessor fails to comply with one or more of
the requirements of this chapter.
(5) The lessor is not accountable to the lessee for any profit made on
any disposition. A lessee who has rightfully rejected or justifiably revoked
acceptance shall account to the lessor for any excess over the amount of the
lessee's security interest (section 28-12-508(5)).

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