Vermont § 518 - § 2A—518.

Full text of Vermont Vermont Statutes Online § 518 — § 2A—518., with citation guidance and answers to common questions.

§ 518. § 2A—518.

  • Cover; substitute goods (1) After a default by a lessor under the lease contract of the type described in section 2A—508(1) of this title, or, if agreed, after other default by the lessor, 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 (§ 2A—504) or otherwise determined pursuant to agreement of the parties (§§ 1—302 and 2A—503), if a lessee’s cover is by a lease agreement substantially similar to the original lease agreement and the new lease agreement is made in good faith and in a commercially reasonable manner, the lessee may recover from the lessor as damages (i) the present value, as of the date of the commencement of the term of the new lease
    agreement, of the rent under the new lease agreement applicable to that period of
    the new lease term which is comparable to the then remaining term of the original
    lease agreement minus the present value as of the same date of the total rent for
    the then remaining lease term of the original lease agreement, and (ii) 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 for any reason does not qualify for
    treatment under subsection (2) of this section, or is by purchase or otherwise, the
    lessee may recover from the lessor as if the lessee had elected not to cover and section 2A—519 of this title governs. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995; amended 2007, No. 99 (Adj. Sess.), § 7.)

Frequently Asked Questions About Vermont § 518

What does Vermont Statutes Online § 518 cover?

Section 518 ("§ 2A—518.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 518?

A common citation format is "Vermont Statutes Online § 518" (Vermont). 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 Vermont law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.

How does Vermont § 518 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.