TITLE 6A
Uniform Commercial Code
CHAPTER 6A-2.1
Leases
PART 6A-2.1-401
Performance of Lease Contract: Repudiated, Substituted, and Excused
SECTION 6A-2.1-403
§ 6A-2.1-403 Retraction of anticipatory
repudiation.
(1) Until the repudiating party's next performance is due, the repudiating
party can retract the repudiation unless, since the repudiation, the aggrieved
party has cancelled the lease contract or materially changed the aggrieved
party's position or otherwise indicated that the aggrieved party considers the
repudiation final.
(2) Retraction may be by any method that clearly indicates to
the aggrieved party that the repudiating party intends to perform under the
lease contract and includes any assurance demanded under § 6A-2.1-401.
(3) Retraction reinstates a repudiating party's rights under
a lease contract with due excuse and allowance to the aggrieved party for any
delay occasioned by the repudiation.
History of Section.
(P.L. 1991, ch. 305, § 1.)