Okla. Stat. tit. 12A, § 12A-2A-402
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-402, 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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Anticipatory repudiation
Official statutory text
ANTICIPATORY REPUDIATION
(1) If either party repudiates a lease contract with respect to
a performance not yet due under the lease contract, the loss of
which performance will substantially impair the value of the lease
contract to the other, the aggrieved party may:
(a) for a commercially reasonable time, await
retraction of repudiation and performance by the repudiating party;
(b) make demand pursuant to Section 41 of this act
and await assurance of future performance adequate under the
circumstances of the particular case; or
(c) resort to any right or remedy upon default under
the lease contract or this article, even though the aggrieved party
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 258
has notified the repudiating party that the aggrieved party would
await the repudiating party's performance and assurance and has
urged retraction.
(2) In addition, whether or not the aggrieved party is
pursuing one of the remedies provided for in subsection (1) of this
section, the aggrieved party may suspend performance or, if the
aggrieved party is the lessor, proceed in accordance with the
provisions of this article on the lessor's right to identify goods
to the lease contract notwithstanding default or to salvage
unfinished goods (Section 71 of this act).
(1) If either party repudiates a lease contract with respect to
a performance not yet due under the lease contract, the loss of
which performance will substantially impair the value of the lease
contract to the other, the aggrieved party may:
(a) for a commercially reasonable time, await
retraction of repudiation and performance by the repudiating party;
(b) make demand pursuant to Section 41 of this act
and await assurance of future performance adequate under the
circumstances of the particular case; or
(c) resort to any right or remedy upon default under
the lease contract or this article, even though the aggrieved party
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 258
has notified the repudiating party that the aggrieved party would
await the repudiating party's performance and assurance and has
urged retraction.
(2) In addition, whether or not the aggrieved party is
pursuing one of the remedies provided for in subsection (1) of this
section, the aggrieved party may suspend performance or, if the
aggrieved party is the lessor, proceed in accordance with the
provisions of this article on the lessor's right to identify goods
to the lease contract notwithstanding default or to salvage
unfinished goods (Section 71 of this act).
Status: in_force · Read it on the official government site
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