Section 440.2309 - Time of performance; contract termination.
UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962
440.2309 Time of performance; contract termination.
Sec. 2309.
(1) The time for shipment or delivery or any other action under a contract if not provided in this article or agreed upon shall be a reasonable time.
(2) Where the contract provides for successive performances but is indefinite in duration it is valid for a reasonable time but unless otherwise agreed may be terminated at any time by either party.
(3) Termination of a contract by one party except on the happening of an agreed event requires that reasonable notification be received by the other party and an agreement dispensing with notification is invalid if its operation would be unconscionable.
History: 1962, Act 174, Eff. Jan. 1, 1964