Section 2-609 of the Uniform Commercial Code provides:
(1) 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.
(2) Between merchants the reasonableness of grounds for insecurity and the adequacy of any assurance offered shall be determined according to commercial standards.
(3) Acceptance of any improper delivery or payment does not prejudice the aggrieved party's right to demand adequate assurance of future performance.
(4) After receipt of a justified demand failure to provide within a reasonable time not exceeding thirty days such assurance of due performance as is adequate under the circumstances of the particular case is a repudiation of the contract.
The Virginia Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement is a legal document utilized in Virginia when one party has concerns about the performance of a contract or agreement that has been delegated to another party. This notice serves as a formal request for the party who delegated the performance to provide reassurances that the assigned party will fulfill their obligations as required by the agreement. Keywords: Virginia, Notice of Demand, Assurance of Performance, Delegation of Performance, Agreement, Contract, Reassurances, Obligations. Different Types of Virginia Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement: 1. Virginia Notice of Demand for Assurance of Performance — General: This type of notice is used in cases where a party has concerns about the performance of an agreement that has been delegated to another party, regardless of the specific type of agreement. 2. Virginia Notice of Demand for Assurance of Performance — Construction Contract: In the context of a construction contract, this notice is utilized to address concerns about the performance of the delegated tasks, such as delays, substandard work, or failure to adhere to contractual specifications. 3. Virginia Notice of Demand for Assurance of Performance — Real Estate Purchase Agreement: When a party delegates the performance of a real estate purchase agreement to another party, this notice can be used to demand reassurances regarding the completion of necessary tasks, such as obtaining financing, title search, or property inspections. 4. Virginia Notice of Demand for Assurance of Performance — Employment Agreement: This notice is employed in cases where the performance of an employment agreement has been delegated to another person or entity, ensuring that the obligations, such as job duties, compensation, or non-compete clauses, will be satisfactorily fulfilled. 5. Virginia Notice of Demand for Assurance of Performance — Business Partnership Agreement: In instances where a party delegates their responsibilities under a business partnership agreement, this notice can be used to seek reassurances regarding the performance of tasks essential to the success of the partnership, such as marketing, financial management, or timely delivery of goods or services. It's essential to consult with a legal professional to determine the specific requirements and circumstances relevant to your situation when utilizing any type of Virginia Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement.
