California Commercial Code

§ 10402

COM § 10402 Effective Jul 15, 1991Div. 10 · Ch. 4

Statute text

(a)If either party repudiates a lease contract, other than a consumer lease, 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:

(1)For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party;

(2)Make demand pursuant to Section 10401 and await assurance of future performance adequate under the circumstances of the particular case; or

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Legislative history

Amended by Stats. 1991, Ch. 111, Sec. 34. Effective July 15, 1991.