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(1) A party?s right to terminate the contract is to be exercised by notice to the other party.
(2) The aggrieved party loses his right to terminate the contract unless he gives notice within a reasonable time after he has or ought to have become aware of the non-performance.
(3)
(a) When performance has not been tendered by the time it was due, the aggrieved party need not give notice of termination before a tender has been made. If a tender is later made he loses his right to terminate if he does not give such notice within a reasonable time after he has or ought to have become aware of the tender.
(b) If, however, the aggrieved party knows or has reason to know that the other party still intends to tender within a reasonable time, and the aggrieved party unreasonably fails to notify the other party that he will not accept performance, he loses his right to terminate if the other party in fact tenders within a reasonable time.
(4) If a party is excused under Article 3.108 through an impediment which is total and permanent, the contract is terminated automatically and without notice at the time the impediment arises.
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"Treaties": international trade instruments
Private International Commercial Law
International Commercial Arbitration & other dispute settlement
International Tax & Financial Regulation
Carriage Transport & Maritime Law
Electronic Commerce and Encryption
International Criminal Law including Anti-Corruption and Cross Border Crime
International Life Sciences & Bio-Sciences