8.2-611 - Retraction of anticipatory repudiation. - Virginia Statutes

§ 8.2-611. Retraction of anticipatory repudiation.

(1) Until the repudiating party's next performance is due he can retract hisrepudiation unless the aggrieved party has since the repudiation cancelled ormaterially changed his position or otherwise indicated that he considers therepudiation final.

(2) Retraction may be by any method which clearly indicates to the aggrievedparty that the repudiating party intends to perform, but must include anyassurance justifiably demanded under the provisions of this title (§ 8.2-609).

(3) Retraction reinstates the repudiating party's rights under the contractwith due excuse and allowance to the aggrieved party for any delay occasionedby the repudiation.

(1964, c. 219.)