1997 Florida Code
TITLE XXXIX COMMERCIAL RELATIONS
Chapter 680 Uniform Commercial Code: Leases  
PART V DEFAULT (ss. 680.501-680.532)
680.518   Cover; substitute goods.

680.518  Cover; substitute goods.--

(1)  After default by a lessor under the lease contract (s. 680.508), the lessee may cover by making any purchase or lease of or contract to purchase or lease goods in substitution for those due from the lessor.

(2)  Except as otherwise provided with respect to damages liquidated in the lease agreement (s. 680.504) or determined by agreement of the parties (s. 671.102(3)), if a lessee's cover is by lease agreement substantially similar to the original lease agreement and the lease agreement is made in good faith and in a commercially reasonable manner, the lessee may recover from the lessor as damages:

(a)  The present value, as of the date of the commencement of the term of the new lease agreement, of the difference between the total rent for the lease term of the new lease agreement and the total rent for the then remaining lease term of the original lease agreement.

(b)  Any incidental or consequential damages less expenses saved in consequence of the lessor's default.

(3)  If a lessee's cover is by lease agreement that qualifies for treatment under subsection (2), the lessee may elect to proceed under subsection (2) or s. 680.519. If a lessee's cover is by lease agreement that for any reason does not qualify for treatment under subsection (2), or is by purchase or otherwise, the lessee may recover from the lessor as if the lessee had elected not to cover.

History.--s. 1, ch. 90-278.