Colorado Code
Part 6 - Breach, Repudiation, and Excuse
§ 4-2-616. Procedure on Notice Claiming Excuse

Source: L. 65: p. 1334, § 1. C.R.S. 1963: § 155-2-616.
Prior Uniform Statutory Provision: None.
Purposes:
This section seeks to establish simple and workable machinery for providing certainty as to when a supervening and excusing contingency "excuses" the delay, "discharges" the contract, or may result in a waiver of the delay by the buyer. When the seller notifies, in accordance with the preceding section, claiming excuse, the buyer may acquiesce, in which case the contract is so modified. No consideration is necessary in a case of this kind to support such a modification. If the buyer does not elect so to modify the contract, he may terminate it and under subsection (2) his silence after receiving the seller's claim of excuse operates as such a termination. Subsection (3) denies effect to any contract clause made in advance of trouble which would require the buyer to stand ready to take delivery whenever the seller is excused from delivery by unforeseen circumstances.
Cross References:
Point 1: Sections 4-2-209 and 4-2-615.
Definitional Cross References:
"Buyer". Section 4-2-103.
"Contract". Section 4-1-201.
"Installment contract". Section 4-2-612.
"Notification". Section 4-1-201.
"Reasonable time". Section 4-1-204.
"Seller". Section 4-2-103.
"Termination". Section 4-2-106.
"Written". Section 4-1-201.