Section 2-A-403. Retraction of Anticipatory Repudiation.\n (1) Until the repudiating party's next performance is due, the\nrepudiating party can retract the repudiation unless, since the\nrepudiation, the aggrieved party has canceled the lease contract or\nmaterially changed the aggrieved party's position or otherwise indicated\nthat the aggrieved party considers the repudiation final.\n (2) Retraction may be by any method that clearly indicates to the\naggrieved party that the repudiating party intends to perform under the\nlease contract and includes any assurance demanded under Section\n2-A-401.\n (3) Retraction reinstates a repudiating party's rights under a lease\ncontract with due excuse and allowance to the aggrieved party for any\ndelay occasioned by the repudiation.\n
N.Y. U.C.C. 2-a-403
Retraction of Anticipatory Repudiation
2014-09-22
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.