411.402 Anticipatory repudiation. 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 do any of the following:
(1) For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party.
(2) Make demand under s. 411.401 and await assurance of future performance adequate under the circumstances of the particular case.
(3) Resort to any right or remedy upon default under the lease contract or this chapter, even though the aggrieved party has notified the repudiating party that the aggrieved party would await the repudiating party's performance and assurance and has urged retraction. In addition, whether or not the aggrieved party is pursuing one of the foregoing remedies, the aggrieved party may suspend performance or, if the aggrieved party is the lessor, proceed in accordance with s. 411.524.
History: 1991 a. 148.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 411 - Uniform commercial code — leases.
411.103 - Definitions and index of definitions.
411.104 - Leases subject to other law.
411.105 - Territorial application of chapter to goods covered by certificate of title.
411.107 - Waiver or renunciation of claim or right after default.
411.109 - Option to accelerate at will.
411.202 - Final written expression: parol or extrinsic evidence.
411.204 - Formation in general.
411.206 - Offer and acceptance in formation of lease contract.
411.207 - Course of performance or practical construction.
411.208 - Modification, rescission and waiver.
411.209 - Lessee under finance lease as beneficiary of supply contract.
411.212 - Implied warranty of merchantability.
411.213 - Implied warranty of fitness for particular purpose.
411.214 - Exclusion or modification of warranties.
411.215 - Cumulation and conflict of warranties express or implied.
411.216 - Third-party beneficiaries of express and implied warranties.
411.218 - Insurance and proceeds.
411.220 - Effect of default on risk of loss.
411.221 - Casualty to identified goods.
411.301 - Enforceability of lease contract.
411.302 - Title to and possession of goods.
411.304 - Subsequent lease of goods by lessor.
411.305 - Sale or sublease of goods by lessee.
411.306 - Priority of certain liens arising by operation of law.
411.308 - Special rights of creditors.
411.309 - Lessor's and lessee's rights when goods become fixtures.
411.310 - Lessor's and lessee's rights when goods become accessions.
411.311 - Priority subject to subordination.
411.401 - Insecurity: adequate assurance of performance.
411.402 - Anticipatory repudiation.
411.403 - Retraction of anticipatory repudiation.
411.404 - Substituted performance.
411.405 - Excused performance.
411.406 - Procedure on excused performance.
411.407 - Irrevocable promises: finance leases.
411.502 - Notice after default.
411.503 - Modification or impairment of rights and remedies.
411.504 - Liquidation of damages.
411.506 - Statute of limitations.
411.507 - Proof of market rent: time and place.
411.509 - Lessee's rights on improper delivery; rightful rejection.
411.510 - Installment lease contracts: rejection and default.
411.511 - Merchant lessee's duties as to rightfully rejected goods.
411.512 - Lessee's duties as to rightfully rejected goods.
411.513 - Cure by lessor of improper tender or delivery; replacement.
411.514 - Waiver of lessee's objections.
411.515 - Acceptance of goods.
411.517 - Revocation of acceptance of goods.
411.518 - Cover; substitute goods.
411.520 - Lessee's incidental and consequential damages.
411.521 - Lessee's right to specific performance or replevin.
411.522 - Lessee's right to goods on lessor's insolvency.
411.524 - Lessor's right to identify goods to lease contract.
411.525 - Lessor's right to possession of goods.
411.526 - Lessor's stoppage of delivery in transit or otherwise.
411.527 - Lessor's rights to dispose of goods.
411.528 - Lessor's damages for nonacceptance, failure to pay, repudiation or other default.
411.529 - Lessor's action for the rent.
411.530 - Lessor's incidental damages.
411.531 - Standing to sue 3rd parties for injury to goods.