(a) If the buyer receives notification of a material or indefinite delay or an allocation justified under Alaska Stat. § 45.02.615, the buyer may by written notification to the seller as to any delivery concerned and if the prospective deficiency substantially impairs the value of the whole contract under the provisions relating to breach of installment contracts, Alaska Stat. § 45.02.612, then also as to the whole,

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Terms Used In Alaska Statutes 45.02.616

  • buyer: means a person who buys or contracts to buy goods. See Alaska Statutes 45.02.103
  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • seller: means a person who sells or contracts to sell goods. See Alaska Statutes 45.02.103
(1) terminate and thereby discharge any unexecuted portion of the contract; or
(2) modify the contract by agreeing to take the buyer’s available quota in substitution.
(b) If, after receipt of the notification from the seller, the buyer fails so to modify the contract within a reasonable time not exceeding 30 days, the contract lapses with respect to deliveries affected.
(c) This section may not be negated by agreement except insofar as the seller has assumed a greater obligation under Alaska Stat. § 45.02.615.
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