(1) The time for shipment or delivery or any other action under a contract if not provided in this chapter or agreed upon shall be a reasonable time.
(2) Where the contract provides for successive performances but is indefinite in duration it is valid for a reasonable time but unless otherwise agreed may be terminated at any time by either party.
(3) Termination of a contract by one party except on the happening of an agreed event requires that reasonable notification be received by the other party and an agreement dispensing with notification is invalid if its operation would be unconscionable. [1961 c.726 §72.3090]
Section: Previous 72.3020 72.3030 72.3040 72.3050 72.3060 72.3070 72.3080 72.3090 72.3100 72.3110 72.3120 72.3130 72.3140 72.3150 72.3160 NextLast modified: August 7, 2008