Arizona § 47-2A402 Anticipatory repudiation

Arizona Statutes

§ 47-2A402 — Anticipatory repudiation

Arizona § 47-2A402

Title 47Arizona Revised Statutes

Ch. 2ALEASES

Art. 4Performance of Lease Contract Repudiated, Substituted and Excused

This text of Arizona § 47-2A402 (Anticipatory repudiation) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-2A402 (2026).

Text

If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance will substantially impair the value of the lease contract to the other, the aggrieved party may:

1.For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party;

2.Make demand pursuant to section 47-2A401 and await assurance of future performance adequate under the circumstances of the particular case; or

3.Resort to any right or remedy upon default under the lease contract or this article, even though the aggrieved party has notified the repudiating party that the aggrieved party would await the repudiating party's performance and assurance and has urged retraction. In addition, whether or not th

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If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance will substantially impair the value of the lease contract to the other, the aggrieved party may:

1. For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party;

2. Make demand pursuant to section 47-2A401 and await assurance of future performance adequate under the circumstances of the particular case; or

3. Resort to any right or remedy upon default under the lease contract or this article, even though the aggrieved party has notified the repudiating party that the aggrieved party would await the repudiating party's performance and assurance and has urged retraction.

In addition, whether or not the aggrieved party is pursuing one of the foregoing remedies, the aggrieved party may suspend performance or, if the aggrieved party is the lessor, proceed in accordance with the provisions of this article on the lessor's right to identify goods to the lease contract notwithstanding default or to salvage unfinished goods (section 47-2A524).