New York Statutes
§ 2-609 — Right to Adequate Assurance of Performance
Section 2--609. Right to Adequate Assurance of Performance.\n (1) A contract for sale imposes an obligation on each party that the\nother's expectation of receiving due performance will not be impaired.\nWhen reasonable grounds for insecurity arise with respect to the\nperformance of either party the other may in writing demand adequate\nassurance of due performance and until he receives such assurance may if\ncommercially reasonable suspend any performance for which he has not\nalready received the agreed return.\n (2) Between merchants the reasonableness of grounds for insecurity and\nthe adequacy of any assurance offered shall be determined according to\ncommercial standards.\n (3) Acceptance of any improper delivery or payment does not prejudice\nthe aggrieved party's right to deman
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Related
In Re Sapolin Paints, Inc.
5 B.R. 412 (E.D. New York, 1980)
Matter of Luce Industries, Inc.
8 B.R. 100 (S.D. New York, 1980)
In Re Metromedia Fiber Network, Inc.
335 B.R. 41 (S.D. New York, 2005)
Nearby Sections
15
§ 2-101
Short Title§ 2-106
Definitions§ 2-203
Seals Inoperative§ 2-204
Formation in General§ 2-205
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