Code of Virginia - Title 8.2A Commercial Code - Leases - Part 4 Performance Of Lease Contract; Repudiated, Substituted And Excused

• 8.2A-401 Insecurity: adequate assurance of performance
  (1) A lease contract imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. (2) If reasonable ...
• 8.2A-402 Anticipatory repudiation
  If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance will ...
• 8.2A-403 Retraction of anticipatory repudiation
  (1) Until the repudiating party's next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the aggrieved party has cancelled ...
• 8.2A-404 Substituted performance
  (1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of ...
• 8.2A-405 Excused performance
  Subject to § 8.2A-404 on substituted performance, the following rules apply: (a) Delay in delivery or nondelivery in whole or in part by a lessor ...
• 8.2A-406 Procedure on excused performance
  (1) If the lessee receives notification of a material or indefinite delay or an allocation justified under § 8.2A-405, the lessee may by written notification ...
• 8.2A-407 Irrevocable promises: finance leases
  (1) In the case of a finance lease that is not a consumer lease the lessee's promises under the lease contract become irrevocable and independent ...

Last modified: April 3, 2009