554.13507 Proof of market rent — time and place. 1. Damages based on market rent (section 554.13519 or 554.13528) are determined according to the rent for the use of the goods concerned for a lease term identical to theremaining lease term of the original lease agreement and prevailing at the times specifiedin sections 554.13519 and 554.13528. 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 placesdescribed in this Article is not readily available, the rent prevailing within any reasonabletime before or after the time described or at any other place or for a different lease term whichin commercial judgment or under usage of trade would serve as a reasonable substitute forthe one described may be used, making any proper allowance for the difference, includingthe 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 Article offered by one party is not admissible unless and until theparty has given the other party notice the court finds g at a time or place or for a lease term other than the one described in this Article offered by one party is not admissible unless and until theparty 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 ofgeneral circulation published as the reports of that market are admissible in evidence. Thecircumstances of the preparation of the report may be shown to affect its weight but not itsadmissibility. 94 Acts, ch 1052, §59 Sat Dec 23 11:03:28 2023 Iowa Code 2024, Section 554.13507 (24, 0)
Iowa Legal Code