A party who adopts, propounds and acts upon an incorrect interpretation of a contract clause — particularly where accompanied by forceful statements that the other party will never receive the benefit of the clause — may be found to have repudiated the contract, even if a more defensible interpretation of the clause existed but was not the interpretation actually advanced. The innocent party's right to accept a continuing repudiation is not waived merely by delaying enforcement while exploring a sale of the business. A damages assessment that fails to provide essential reasoning or grapple with the available evidence will be set aside for a new trial.
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