Pratt's Journal of Bankruptcy Law
Reasonable and Adequate: What Are the Requirements for Demanding Adequate Assurances Under UCC § 2-609?
Senior counsel Melvin Brosterman and special counsel Chip Healy were published as the leading article in the February/March 2019 issue of Pratt's Journal of Bankruptcy Law.
"There are few hard and fast rules concerning when a promisor’s conduct creates reasonable grounds for a demand, or what assurances from the promisor will be considered adequate," they write. "But even without such rules, it is helpful to see how courts have decided which party is reasonable, which party is trying to perform under the contract, and which party wants to get out from under the contract."