Florida Statutes 672.616 – Procedure on notice claiming excuse
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(1) Where the buyer receives notification of a material or indefinite delay or an allocation justified under the preceding section he or she may by written notification to the seller as to any delivery concerned, and where the prospective deficiency substantially impairs the value of the whole contract under the provisions of this chapter relating to breach of installment contracts (s. 672.612), then also as to the whole:
(a) Terminate and thereby discharge any unexecuted portion of the contract; or
Terms Used In Florida Statutes 672.616
- Buyer: means a person who buys or contracts to buy goods. See Florida Statutes 672.103
- 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 Florida Statutes 672.103
(b) Modify the contract by agreeing to take his or her available quota in substitution.
(2) If after receipt of such 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 any deliveries affected.
(3) The provisions of this section may not be negated by agreement except in so far as the seller has assumed a greater obligation under the preceding section.