8.2-309 - Absence of specific time provisions; notice of termination. - Virginia Statutes

§ 8.2-309. Absence of specific time provisions; notice of termination.

(1) The time for shipment or delivery or any other action under a contract ifnot provided in this title or agreed upon shall be a reasonable time.

(2) Where the contract provides for successive performances but is indefinitein duration it is valid for a reasonable time but unless otherwise agreed maybe terminated at any time by either party.

(3) Termination of a contract by one party except on the happening of anagreed event requires that reasonable notification be received by the otherparty and an agreement dispensing with notification is invalid if itsoperation would be unconscionable.

(1964, c. 219.)