O.C.G.A.
O.C.G.A.

11-2A-403 (2019)

Retraction of anticipatory repudiation

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(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) 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) 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.

History

Code 1981, § 11-2A-403, enacted by Ga.

L. 1993, p. 633, § 1; Ga. L. 2002, p. 415, § 11.

Annotations

The 2002 amendment, effective April 18, 2002, part of an Act to revise, modernize, and correct the Code, substituted "canceled" for "cancelled" in subsection (1).

RESEARCH REFERENCES

U.L.A. - Uniform Commercial Code (U.L.A.) § 2A-403.