70A-2-309 - Absence of specific time provisions -- Notice of termination.
70A-2-309. Absence of specific time provisions -- Notice of termination.
(1) The time for shipment or delivery or any other action under a contract if not providedin this chapter or agreed upon shall be a reasonable time.
(2) Where the contract provides for successive performances but is indefinite in durationit is valid for a reasonable time but unless otherwise agreed may be terminated at any time byeither party.
(3) Termination of a contract by one party except on the happening of an agreed eventrequires that reasonable notification be received by the other party and an agreement dispensingwith notification is invalid if its operation would be unconscionable.
Enacted by Chapter 154, 1965 General Session