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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 2A. · Article 2A. LEASES · Part 4. PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED

11-2A-403. Retraction of anticipatory repudiation.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (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 canceled the lease contract or materially changed the aggrieved party’s position or otherwise indicated that the aggrieved party considers the repudiation final.#

  2. (2)

    Retraction may be by any method that clearly indicates to the aggrieved party that the repudiating party intends to perform under the lease contract and includes any assurance demanded under Code Section 11-2A-401.#

  3. (3)

    Retraction reinstates a repudiating party’s rights under a lease contract with due excuse and allowance to the aggrieved party for any delay occasioned by the repudiation.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-2A-403, enacted by Ga. L. 1993, p. 633, § 1; Ga. L. 2002, p. 415, § 11.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 303; merge action: carried; file SHA-256 ad397fccbf21.