§ 34.1-2-609 — Right to adequate assurance of performance

(a) A contract for sale imposes an obligation on each
party that the other's expectation of receiving due performance
will not be impaired. When reasonable grounds for insecurity
arise with respect to the performance of either party the other
may in writing demand adequate assurance of due performance and
until he receives such assurance may if commercially reasonable
suspend any performance for which he has not already received
the agreed return.
(b) Between merchants the reasonableness of grounds for
insecurity and the adequacy of any assurance offered shall be
determined according to commercial standards.
(c) Acceptance of any improper delivery or payment does
not prejudice the aggrieved party's right to demand adequate
assurance of further performance.
(d) After receipt of a justified demand failure to provide
within a reasonable time not exceeding thirty (30) days such
assurance of due performance as is adequate under the
circumstances of the particular case is a repudiation of the
contract.