Advanced Search

§6A-2.1-403  Retraction of anticipatory repudiation. –


Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
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.)