(810 ILCS 5/2-609) (from Ch. 26, par. 2-609)
Sec. 2-609.
Right to adequate assurance of performance.
(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 30 days such assurance of due performance as
is adequate under the circumstances of the particular case is a repudiation
of the contract.
(Source: Laws 1961, p. 2101.)
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