§ 4-2-616 — Procedure on notice claiming excuse

(1) Where the buyer receives
notification of a material or indefinite delay or an allocation justified under section
4-2-615, he may by written notification to the seller as to any delivery concerned,
and where the prospective deficiency substantially impairs the value of the whole
contract under the provisions of this article relating to breach of installment
contracts (section 4-2-612), then also as to the whole:

(a) Terminate and thereby discharge any unexecuted portion of the contract;
or

(b) Modify the contract by agreeing to take his available quota in
substitution.

(2) If after receipt of such notification from the seller the buyer fails so to
modify the contract within a reasonable time not exceeding thirty days, the
contract lapses with respect to any deliveries affected.

(3) The provisions of this section may not be negated by agreement except
insofar as the seller has assumed a greater obligation under section 4-2-615.

Legislative History

Source: L. 65: p. 1334, � 1. C.R.S. 1963: � 155-2-616.