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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Except as otherwise provided with respect to damages liquidated in the lease agreement or otherwise determined pursuant to agreement of the parties, 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 does not qualify under s. 411.527(2), or is by sale or otherwise, the lessor may recover from the lessee all of the following as damages for a default of the type described in s. 411.523(1) or (3)(a), or, if agreed, for other default of the lessee:
(a) 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 that the lessor repossesses the goods or an earlier date on which the lessee makes a tender of the goods to the lessor.
(b) The present value as of the date determined under par. (a) 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.
(c) Any incidental damages allowed under s. 411.530, less expenses saved in consequence of the lessee's default.
(2) If the measure of damages provided in sub. (1) 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, that the lessor would have made from full performance by the lessee, together with any incidental damages allowed under s. 411.530, due allowance for costs reasonably incurred and due credit for payments or proceeds of disposition.
Cite this article: FindLaw.com - Wisconsin Statutes Uniform Commercial Code (Ch. 401 to 420) § 411.528. Lessor's damages for nonacceptance, failure to pay, repudiation or other default - last updated January 01, 2025 | https://codes.findlaw.com/wi/uniform-commercial-code-ch-401-to-420/wi-st-411-528/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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