400.2A-402. Anticipatory repudiation.
Anticipatory repudiation.
400.2A-402. If either party repudiates a lease contractwith respect to a performance not yet due under the leasecontract, the loss of which performance will substantially impairthe value of the lease contract to the other, the aggrieved partymay:
(a) for a commercially reasonable time, await retraction ofrepudiation and performance by the repudiating party;
(b) make demand pursuant to section 400.2A-401 and awaitassurance of future performance adequate under the circumstancesof the particular case; or
(c) resort to any right or remedy upon default under thelease contract or this Article, even though the aggrieved partyhas notified the repudiating party that the aggrieved party wouldawait the repudiating party's performance and assurance and hasurged retraction. In addition, whether or not the aggrievedparty is pursuing one of the foregoing remedies, the aggrievedparty may suspend performance or, if the aggrieved party is thelessor, proceed in accordance with the provisions of this Articleon the lessor's right to identify goods to the lease contractnotwithstanding default or to salvage unfinished goods (Section400.2A-524).
(L. 1992 S.B. 448)