{"data":{"id":"us-ky/krs-355.2a-518","jurisdiction":"us-ky","citation":"KRS 355.2A-518","heading":"Cover -- Substitute goods.","body":"(1) After a default by a lessor under the lease contract of the type described in KRS\n355.2A-508(1), or, if agreed, after other default by the lessor, the lessee may cover\nby making any purchase or lease of or contract to purchase or lease goods in\nsubstitution for those due from the lessor.\n(2) Except as otherwise provided with respect to damages liquidated in the lease\nagreement (KRS 355.2A-504) or otherwise determined pursuant to agreement of the\nparties (KRS 355.1-302 and 355.2A-503), if a lessee's cover is by a lease agreement\nsubstantially similar to the original lease agreement and the new lease agreement is\nmade in good faith and in a commercially reasonable manner, the lessee may\nrecover from the lessor as damages:\n(a) The present value, as of the date of the commencement of the term of the new\nlease agreement, of the rent under the new lease agreement applicable to that\nperiod of the new lease term which is comparable to the then remaining term\nof the original lease agreement minus the present value as of the same date of\nthe total rent for the then remaining lease term of the original lease agreement;\nand\n(b) Any incidental or consequential damages, less expenses saved in consequence\nof the lessor's default.\n(3) If a lessee's cover is by lease agreement  that for any reason does not qualify for\ntreatment under subsection (2) of this section, or is by purchase or otherwise, the\nlessee may recover from the lessor as if the lessee had elected not to cover and KRS\n355.2A-519 governs.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33414","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:43Z","sha256":"7252c9f30d36293316c657c59d38502413ff6fc89e70b582f745907f673bc6d7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2a-517","next":"us-ky/krs-355.2a-519"},"notice":"GroundRules: Original legal text. Not legal advice."}