8.2A-404 - A-404. Substituted performance. - Virginia Statutes

§ 8.2A-404. Substituted performance.

(1) If without fault of the lessee, the lessor and the supplier, the agreedberthing, loading, or unloading facilities fail or the agreed type of carrierbecomes unavailable or the agreed manner of delivery otherwise becomescommercially impracticable, but a commercially reasonable substitute isavailable, the substitute performance shall be tendered and accepted.

(2) If the agreed means or manner of payment fails because of domestic orforeign governmental regulation:

(a) The lessor may withhold or stop delivery or cause the supplier towithhold or stop delivery unless the lessee provides a means or manner ofpayment that is commercially a substantial equivalent; and

(b) If delivery has already been taken, payment by the means or in the mannerprovided by the regulation discharges the lessee's obligation unless theregulation is discriminatory, oppressive, or predatory.

(1991, c. 536.)