Colorado Notice of Objection Regarding Late Performance in Delivery of Goods and Demand Assurance

State:
Multi-State
Control #:
US-02310BG
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PDF; 
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Description

Section 2-609(1) of the Uniform Commercial Code provides:


A contract for sale imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. When reasonable grounds for insecurity arise with respect to the performance of either party the other may in writing demand adequate assurance of due performance and until he receives such assurance may, if commercially reasonable, suspend any performance for which he has not already received the agreed return.

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Colorado Notice of Objection Regarding Late Performance in Delivery of Goods and Demand Assurance