Terms to be specified

Va. Code Ann. § 59.1-503.5
in effect
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An agreement that is otherwise sufficiently definite to be a contract is not invalid because it leaves particulars of performance to be specified by one of the parties. If particulars of performance are to be specified by a party, the following rules apply: (1) Specification must be made in good faith and within limits set by commercial reasonableness. (2) If a specification materially affects the other party's performance but is not seasonably made, the other party: (A) is excused for any resulting delay in its performance; and (B) may perform, suspend performance, or treat the failure to specify as a breach of contract. 2000, cc. 101 , 996 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/59.1-503.5/Fetched: 10/16/2026

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