12A:2-611 - Retraction of anticipatory repudiation - New Jersey Statutes

12A:2-611.  Retraction of anticipatory repudiation
    (1) Until the repudiating party's next performance is due he can retract his  repudiation unless the aggrieved party has since the repudiation cancelled or  materially changed his position or otherwise indicated that he considers the  repudiation final.

    (2) Retraction may be by any method which clearly indicates to the aggrieved  party that the repudiating party intends to perform, but must include any  assurance justifiably demanded under the provisions of this Chapter  (12A:2-609).

    (3) Retraction reinstates the repudiating party's rights under the contract  with due excuse and allowance to the aggrieved party for any delay occasioned  by the repudiation.

     L.1961, c. 120, s. 2-611.