N.Y. Uniform Commercial Code Law § 2-a-403: Retraction of Anticipatory Repudiation

Section 2-A-403. Retraction of Anticipatory Repudiation.

(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 Section

2-A-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.