Kentucky Statutes 355.2-611 – Retraction of anticipatory repudiation
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(1) Until the repudiating party’s next performance is due he can retract his repudiation unless the aggrieved party has since the repudiation canceled or materially changed his position or otherwise indicated that he considers the repudiation final.
(2) Retraction may be by any method which clearly indicates to the aggrieved party that the repudiating party intends to perform, but must include any assurance justifiably demanded under the provisions of this article (KRS 355.2-609).
(3) Retraction reinstates the repudiating party’s rights under the contract with due excuse and allowance to the aggrieved party for any delay occasioned by the repudiation.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-611, effective July 1, 1960.
(2) Retraction may be by any method which clearly indicates to the aggrieved party that the repudiating party intends to perform, but must include any assurance justifiably demanded under the provisions of this article (KRS 355.2-609).
Terms Used In Kentucky Statutes 355.2-611
- Contract: A legal written agreement that becomes binding when signed.
(3) Retraction reinstates the repudiating party’s rights under the contract with due excuse and allowance to the aggrieved party for any delay occasioned by the repudiation.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-611, effective July 1, 1960.