554.13402 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 thelease 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 554.13401 and await assurance of future performance adequate under the circumstances of the particular case; or 3. resort to any right or remedy upon default under the lease contract or this Article, even though the aggrieved party has notified the repudiating party that the aggrieved partywould await the repudiating party’s performance and assurance and has urged retraction. Inaddition, whether or not the aggrieved party is pursuing one of the foregoing remedies, theaggrieved party may suspend performance or, if the aggrieved party is the lessor, proceed inaccordance with the provisions of this Article on the lessor’s right to identify goods to thelease contract notwithstanding default or to salvage unfinished goods (section 554.13524). ssor, proceed inaccordance with the provisions of this Article on the lessor’s right to identify goods to thelease contract notwithstanding default or to salvage unfinished goods (section 554.13524). 94 Acts, ch 1052, §47Referred to in §554.13508 Sat Dec 23 11:03:20 2023 Iowa Code 2024, Section 554.13402 (24, 0)
Iowa Legal Code