North Dakota Code 41-02.1-43 – (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 substantially impair the value of the lease contract to the other, the aggrieved party may:
Terms Used In North Dakota Code 41-02.1-43
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
1. For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party.
2. Make demand under section 41-02.1-42 and await assurance of future performance adequate under the circumstances of the particular case.
3. Resort to any right or remedy upon default under the lease contract or this chapter, even though the aggrieved party has notified the repudiating party that the aggrieved party would await the repudiating party’s performance and assurance and has urged retraction.
In addition, the aggrieved party may suspend performance or, if the aggrieved party is the lessor, proceed in accordance with the provisions of this chapter on the lessor’s right to identify goods to the lease contract notwithstanding default or to salvage unfinished goods (section 41-02.1-71).