                                 CODE OF VIRGINIA

RETRACTION OF ANTICIPATORY REPUDIATION (§ 8.2A-403)

1. Until the repudiating party&#8217;s next performance is due, the repudiating
party can retract the repudiation unless, since the repudiation, the aggrieved
party has cancelled the lease contract or materially changed the aggrieved
party&#8217;s position or otherwise indicated that the aggrieved party considers
the repudiation final.

2. Retraction may be by any method that clearly indicates to the aggrieved party
that the repudiating party intends to perform under the lease contract and
includes any assurance demanded under &#xA7; 8.2A-401.

3. Retraction reinstates a repudiating party&#8217;s rights under a lease
contract with due excuse and allowance to the aggrieved party for any delay
occasioned by the repudiation.

HISTORY: 1991, c. 536.