Okla. Stat. tit. 12A, § 12A-2-609
This is the official text of Okla. Stat. tit. 12A, § 12A-2-609, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Right to Adequate Assurance of Performance
Official statutory text
(1) A contract for sale imposes an obligation on each party that
the other's expectation of receiving due performance will not be
impaired. When reasonable grounds for insecurity arise with respect
to the performance of either party the other may in writing demand
adequate assurance of due performance and until he receives such
assurance may if commercially reasonable suspend any performance for
which he has not already received the agreed return.
(2) Between merchants the reasonableness of grounds for
insecurity and the adequacy of any assurance offered shall be
determined according to commercial standards.
(3) Acceptance of any improper delivery or payment does not
prejudice the aggrieved party's right to demand adequate assurance
of future performance.
(4) After receipt of a justified demand failure to provide
within a reasonable time not exceeding thirty (30) days such
assurance of due performance as is adequate under the circumstances
of the particular case is a repudiation of the contract.
the other's expectation of receiving due performance will not be
impaired. When reasonable grounds for insecurity arise with respect
to the performance of either party the other may in writing demand
adequate assurance of due performance and until he receives such
assurance may if commercially reasonable suspend any performance for
which he has not already received the agreed return.
(2) Between merchants the reasonableness of grounds for
insecurity and the adequacy of any assurance offered shall be
determined according to commercial standards.
(3) Acceptance of any improper delivery or payment does not
prejudice the aggrieved party's right to demand adequate assurance
of future performance.
(4) After receipt of a justified demand failure to provide
within a reasonable time not exceeding thirty (30) days such
assurance of due performance as is adequate under the circumstances
of the particular case is a repudiation of the contract.
Status: in_force · Read it on the official government site
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