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.
A Collin Texas Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement is a legal document used in Collin, Texas to address concerns related to the delegation of performance of an agreement. This notice is typically sent by one party to another to request assurance that the delegated party will uphold their obligations under the agreement. In Collin, Texas, there are different types of Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement, based on the specific circumstance: 1. General Notice of Demand for Assurance of Performance: This type of notice is used when a party has delegated the performance of certain tasks or obligations to another party and wants to ensure that the assigned party will fulfill their responsibilities as per the agreement. 2. Notice of Demand for Assurance of Performance — Construction Contracts: In the construction industry, it is common to have complex agreements with multiple parties involved. This type of notice focuses on demanding assurance from a delegated party that they will meet their obligations related to construction projects. 3. Notice of Demand for Assurance of Performance — Business Contracts: Business contracts often involve the delegation of tasks or responsibilities to other parties. This notice type addresses concerns about the delegated party's performance and seeks assurance that the agreement will be upheld. 4. Notice of Demand for Assurance of Performance — Real Estate Contracts: In real estate transactions, parties may delegate certain responsibilities such as inspections, repairs, or financial obligations. This notice is specific to real estate contracts and requests assurance that the performance-related provisions will be carried out by the assigned party. When drafting a Collin Texas Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement, it is important to include relevant keywords to improve its visibility and searchability. Keywords that could be used when drafting the document include: Collin Texas, Notice of Demand, Assurance of Performance, Delegation of Performance, Agreement, Legal Document, Party, Obligations, Construction Contracts, Business Contracts, Real Estate Contracts, Tasks, Responsibilities.A Collin Texas Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement is a legal document used in Collin, Texas to address concerns related to the delegation of performance of an agreement. This notice is typically sent by one party to another to request assurance that the delegated party will uphold their obligations under the agreement. In Collin, Texas, there are different types of Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement, based on the specific circumstance: 1. General Notice of Demand for Assurance of Performance: This type of notice is used when a party has delegated the performance of certain tasks or obligations to another party and wants to ensure that the assigned party will fulfill their responsibilities as per the agreement. 2. Notice of Demand for Assurance of Performance — Construction Contracts: In the construction industry, it is common to have complex agreements with multiple parties involved. This type of notice focuses on demanding assurance from a delegated party that they will meet their obligations related to construction projects. 3. Notice of Demand for Assurance of Performance — Business Contracts: Business contracts often involve the delegation of tasks or responsibilities to other parties. This notice type addresses concerns about the delegated party's performance and seeks assurance that the agreement will be upheld. 4. Notice of Demand for Assurance of Performance — Real Estate Contracts: In real estate transactions, parties may delegate certain responsibilities such as inspections, repairs, or financial obligations. This notice is specific to real estate contracts and requests assurance that the performance-related provisions will be carried out by the assigned party. When drafting a Collin Texas Notice of Demand for Assurance of Performance Due to Delegation of Performance of Agreement, it is important to include relevant keywords to improve its visibility and searchability. Keywords that could be used when drafting the document include: Collin Texas, Notice of Demand, Assurance of Performance, Delegation of Performance, Agreement, Legal Document, Party, Obligations, Construction Contracts, Business Contracts, Real Estate Contracts, Tasks, Responsibilities.
