Idaho State Statutes - Idaho Attorney Directory

LESSOR'S DAMAGES FOR NONACCEPTANCE, FAILURE TO PAY,
REPUDIATION, OR OTHER DEFAULT. (1) 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 a lessor elects to retain the goods or a lessor elects to
dispose of the goods and the disposition is by lease agreement that for any
reason does not qualify for treatment under section 28-12-527(2), or is by
sale or otherwise, the lessor may recover from the lessee as damages for a
default of the type described in section 28-12-523(1) or 28-12-523(3)(a), or,
if agreed, for other default of the lessee, (i) accrued and unpaid rent as of
the date of default if the lessee has never taken possession of the goods, or,
if the lessee has taken possession of the goods, as of the date the lessor
repossesses the goods or an earlier date on which the lessee makes a tender of
the goods to the lessor, (ii) the present value as of the date determined
under clause (i) of this subsection, 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 market rent at the place where the goods are located computed
for the same lease term, and (iii) any incidental damages allowed under
section 28-12-530, less expenses saved in consequence of the lessee's default.
(2) If the measure of damages provided in subsection (1) of this section
is inadequate to put a lessor in as good a position as performance would have,
the measure of damages is the present value of the profit, including
reasonable overhead, the lessor would have made from full performance by the
lessee, together with any incidental damages allowed under section 28-12-530,
due allowance for costs reasonably incurred and due credit for payments or
proceeds of disposition.

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