8.1A-205 - A-205. Reasonable time; seasonableness. - Virginia Statutes

§ 8.1A-205. Reasonable time; seasonableness.

(a) Whether a time for taking an action required by the Uniform CommercialCode is reasonable depends on the nature, purpose, and circumstances of theaction.

(b) An action is taken seasonably if it is taken at or within the time agreedor, if no time is agreed, at or within a reasonable time.

(1964, c. 219, § 8.1-204 (2)-(3); 2003, c. 353.)