Understanding Anticipatory Repudiation of a Contract

The video tutorial explains anticipatory repudiation in contract law, where one party can exit a contract if they reasonably believe the other party will breach it. It covers the conditions under which repudiation is justified, the process of seeking assurances from the other party, and the timing and performance considerations involved in repudiation. The tutorial also discusses the ability to retract repudiation if the other party provides adequate assurances.

What is the significance of waiting a reasonable time for assurances from the other party?

What happens if the other party provides adequate assurances after a repudiation?