§ 6A-2.1-402 - Anticipatory repudiation. - Rhode Island Statutes

SECTION 6A-2.1-402

   § 6A-2.1-402  Anticipatory repudiation.– If either party repudiates a lease contract with respect to a performance notyet due under the lease contract, the loss of which performance willsubstantially impair the value of the lease contract to the other, theaggrieved party may:

   (a) For a commerically reasonable time, await retraction ofrepudiation and performance by the repudiating party;

   (b) Make demand pursuant to § 6A-2.1-401 and awaitassurance of future performance adequate under the circumstances of theparticular case; or

   (c) Resort to any right or remedy upon default under thelease contract or this chapter, even though the aggrieved party has notifiedthe repudiating party that the aggrieved party would await the repudiatingparty'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 thelessor, proceed in accordance with the provisions of this chapter on thelessor's right to identify goods to the lease contract notwithstanding defaultor to salvage unfinished goods (§ 6A-2.1-524).