59.1-508.12 - Completing performance. - Virginia Statutes

§ 59.1-508.12. Completing performance.

(a) On breach of contract by a licensee, the licensor may:

(1) identify to the contract any conforming copy not already identified if,at the time the licensor learned of the breach, the copy was in itspossession;

(2) in the exercise of reasonable commercial judgment for purposes ofavoiding loss and effective realization on effort or investment, complete theinformation and identify it to the contract, cease work on it, relicense ordispose of it, or proceed in any other commercially reasonable manner; and

(3) pursue any remedy for breach that has not been waived.

(b) On breach by a licensee, both parties remain bound by all contractual useterms, but the contractual use terms do not apply to information or copiesproperly received or obtained from another source.

(2000, cc. 101, 996.)