                                 CODE OF VIRGINIA

ANTICIPATORY REPUDIATION (§ 8.2A-402)

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:

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

b. Make demand pursuant to &#xA7; 8.2A-401 and await assurance of future
performance adequate under the circumstances of the particular case; or

c. Resort to any right or remedy upon default under the lease contract or this
title, even though the aggrieved party has notified the repudiating party that
the aggrieved party would await the repudiating party&#8217;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 title on the lessor&#8217;s right to identify goods to
the lease contract notwithstanding default or to salvage unfinished goods
(&#xA7; 8.2A-524).

HISTORY: 1991, c. 536.