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(810 ILCS 5/2A-519) (from Ch. 26, par. 2A-519)
Sec. 2A-519. Lessee's damages for nondelivery, repudiation, default, and
breach of warranty in regard to accepted goods.
(1) Except as otherwise provided with respect to damages liquidated in the
lease agreement (Section 2A-504) or otherwise determined pursuant to
agreement of the parties (Sections 1-302
and 2A-503), if a lessee elects
not to cover or a lessee elects to cover and the cover is by lease
agreement that for any reason does not qualify for treatment under Section
2A-518(2), or is by purchase or otherwise, the measure of damages for
nondelivery or repudiation by the lessor or for rejection or revocation of
acceptance by the lessee is the present value, as of the date of the
default, of the then market rent minus the present value as of the same
date of the original rent, computed for the remaining lease term of the
original lease agreement, together with incidental and consequential
damages, less expenses saved in consequence of the lessor's default.
(2) Market rent is to be determined as of the place for
tender or, in cases of rejection after arrival or revocation of
acceptance, as of the place of arrival.
(3) Except as otherwise agreed, if the lessee has accepted goods and
given notification (Section 2A-516(3)), the measure of damages for
nonconforming tender or delivery or other default by a lessor is the loss
resulting in the ordinary course of events from the lessor's
default as determined in any manner that is reasonable together
with incidental and consequential damages, less expenses saved
in consequence of the lessor's default.
(4) Except as otherwise agreed, the measure of damages for breach of
warranty is the present value at the time and place of acceptance of the
difference between the value of the use of the goods accepted and the value
if they had been as warranted for the lease term, unless special
circumstances show proximate damages of a different amount, together with
incidental and consequential damages, less expenses saved in consequence of
the lessor's default or breach of warranty.
(Source: P.A. 95-895, eff. 1-1-09.)
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