400.2A-403. Retraction of anticipatory repudiation. - Missouri Statutes

Retraction of anticipatory repudiation.

400.2A-403. (1) Until the repudiating party's nextperformance is due, the repudiating party can retract therepudiation unless, since the repudiation, the aggrieved partyhas cancelled the lease contract or materially changed theaggrieved party's position or otherwise indicated that theaggrieved party considers the repudiation final.

(2) Retraction may be by any method that clearly indicatesto the aggrieved party that the repudiating party intends toperform under the lease contract and includes any assurancedemanded under section 400.2A-401.

(3) Retraction reinstates a repudiating party's rightsunder a lease contract with due excuse and allowance to theaggrieved party for any delay occasioned by the repudiation.

(L. 1992 S.B. 448)