(1) Until the repudiating party's next performance is due he can retract his repudiation unless the aggrieved party has since the repudiation cancelled 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 (G.S. 25-2-609).
(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. (1965, c. 700, s. 1.)
Sections: Previous 25-2-604 25-2-605 25-2-606 25-2-607 25-2-608 25-2-609 25-2-610 25-2-611 25-2-612 25-2-613 25-2-614 25-2-615 25-2-616 25-2-701 25-2-702 Next
Last modified: March 23, 2014