New York § 2-A-402 Anticipatory Repudiation

New York Statutes

§ 2-A-402 — Anticipatory Repudiation

New York § 2-A-402

Law UCCUniform Commercial Code

Part 4Performance of Lease Contract: Repudiated, Substituted and Excused

Art. 2-ALeases

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Bluebook

N.Y. Uniform Commercial Code § 2-A-402 (2026).

Text

Section 2-A-402. Anticipatory Repudiation.\n  If either party repudiates a lease contract with respect to a\nperformance not yet due under the lease contract, the loss of which\nperformance will substantially impair the value of the lease contract to\nthe other, the aggrieved party may:\n  (1) for a commercially reasonable time, await retraction of\nrepudiation and performance by the repudiating party;\n  (2) make demand pursuant to Section 2-A-401 and await assurance of\nfuture performance adequate under the circumstances of the particular\ncase; or\n  (3) resort to any right or remedy upon default under the lease\ncontract or this Article, even though the aggrieved party has notified\nthe repudiating party that the aggrieved party would await the\nrepudiating party's performance and assu

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Section 2-A-402. Anticipatory Repudiation.\n If either party repudiates a lease contract with respect to a\nperformance not yet due under the lease contract, the loss of which\nperformance will substantially impair the value of the lease contract to\nthe other, the aggrieved party may:\n (1) for a commercially reasonable time, await retraction of\nrepudiation and performance by the repudiating party;\n (2) make demand pursuant to Section 2-A-401 and await assurance of\nfuture performance adequate under the circumstances of the particular\ncase; or\n (3) resort to any right or remedy upon default under the lease\ncontract or this Article, even though the aggrieved party has notified\nthe repudiating party that the aggrieved party would await the\nrepudiating party's performance and assurance and has urged retraction.\nIn addition, whether or not the aggrieved party is pursuing one of the\nforegoing remedies, the aggrieved party may suspend performance or, if\nthe aggrieved party is the lessor, proceed in accordance with the\nprovisions of this Article on the lessor's right to identify goods to\nthe lease contract notwithstanding default or to salvage unfinished\ngoods (Section 2-A-524).\n