N.Y. UCC Law § 2-A-403
This is the official text of N.Y. UCC Law § 2-A-403, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Retraction of Anticipatory Repudiation
Official statutory text
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
Status: in_force · Read it on the official government site
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