§ 25-2A-403. Retraction of anticipatory repudiation. - North Carolina Statutes

§25‑2A‑403.  Retraction of anticipatory repudiation.

(1)        Until therepudiating party's next performance is due, the repudiating party can retractthe repudiation unless, since the repudiation, the aggrieved party hascancelled the lease contract or materially changed the aggrieved party'sposition or otherwise indicated that the aggrieved party considers therepudiation final.

(2)        Retraction may beby any method that clearly indicates to the aggrieved party that therepudiating party intends to perform under the lease contract and includes anyassurance demanded under G.S. 25‑2A‑401.

(3)        Retractionreinstates a repudiating party's rights under a lease contract with due excuseand allowance to the aggrieved party for any delay occasioned by therepudiation. (1993, c. 463, s. 1.)