Virginia Code 59.1-506.7: Copy; performance related to delivery; payment.
(a) If performance requires delivery of a copy, the following rules apply:
Terms Used In Virginia Code 59.1-506.7
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means the total legal obligation resulting from the parties' agreement as affected by this chapter and other applicable law. See Virginia Code 59.1-501.2
- Contract fee: means the price, fee, rent, or royalty payable in a contract under this chapter or any part of the amount payable. See Virginia Code 59.1-501.2
- Copy: means the medium on which information is fixed on a temporary or permanent basis and from which it can be perceived, reproduced, used, or communicated, either directly or with the aid of a machine or device. See Virginia Code 59.1-501.2
- Party: means a person that engages in a transaction or makes an agreement under this chapter. See Virginia Code 59.1-501.2
(1) The party required to deliver need not complete a tendered delivery until the receiving party tenders any performance then due.
(2) Tender of delivery is a condition of the other party’s duty to accept the copy and entitles the tendering party to acceptance of the copy.
(b) If payment is due on delivery of a copy, the following rules apply:
(1) Tender of delivery is a condition of the receiving party’s duty to pay and entitles the tendering party to payment according to the contract.
(2) All copies required by the contract must be tendered in a single delivery, and payment is due only on tender.
(c) If the circumstances give either party the right to make or demand delivery in lots, the contract fee, if it can be apportioned, may be demanded for each lot.
(d) If payment is due and demanded on delivery of a copy or on delivery of a document of title, the right of the party receiving tender to retain or dispose of the copy or document, as against the tendering party, is conditioned on making the payment due.