New Jersey § 12a:2a-507
Full text of New Jersey New Jersey Statutes § 12a:2a-507, with citation guidance and answers to common questions.
§ 12a:2a-507.
(1) Damages based on market rent (12A:2A-519 or 12A:2A-528) are determined according
to the rent for the use of the goods concerned for a lease term identical to the remaining
lease term of the original lease agreement and prevailing at the times specified in sections 12A:2A-519 and 12A:2A-528 . (2) If evidence of rent for the use of the goods concerned for a lease term identical
to the remaining lease term of the original lease agreement and prevailing at the
times or places described in this chapter is not readily available, the rent prevailing
within any reasonable time before or after the time described or at any other place
or for a different lease term which in commercial judgment or under usage of trade
would serve as a reasonable substitute for the one described may be used, making any
proper allowance for the difference, including the cost of transporting the goods
to or from the other place. (3) Evidence of a relevant rent prevailing at a time or place or for a lease term
other than the one described in this chapter offered by one party is not admissible
unless and until that party has given the other party notice the court finds sufficient
to prevent unfair surprise. (4) If the prevailing rent or value of any goods regularly leased in any established
market is in issue, reports in official publications or trade journals or in newspapers
or periodicals of general circulation published as the reports of that market are
admissible in evidence. The circumstances of the preparation of the report may be shown to affect its weight
but not its admissibility.
Frequently Asked Questions About New Jersey § 12a:2a-507
What does New Jersey Statutes § 12a:2a-507 cover?
Section 12a:2a-507 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:2a-507?
A common citation format is "New Jersey Statutes § 12a:2a-507" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:2a-507 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.