§ 6A-2.1-403. Retraction of anticipatory repudiation.
(1) Until the repudiating party’s next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the aggrieved party has cancelled the lease contract or materially changed the aggrieved party’s position or otherwise indicated that the aggrieved party considers the repudiation final.
(2) Retraction may be by any method that clearly indicates to the aggrieved party that the repudiating party intends to perform under the lease contract and includes any assurance demanded under § 6A-2.1-401.
(3) Retraction reinstates a repudiating party’s rights under a lease contract with due excuse and allowance to the aggrieved party for any delay occasioned by the repudiation.
History of Section.P.L. 1991, ch. 305, § 1.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Part 4 - Performance of Lease Contract: Repudiated, Substituted, and Excused
Section 6A-2.1-401. - Insecurity: Adequate assurance of performance.
Section 6A-2.1-402. - Anticipatory repudiation.
Section 6A-2.1-403. - Retraction of anticipatory repudiation.
Section 6A-2.1-404. - Substituted performance.
Section 6A-2.1-405. - Excused performance.