Sec. 42a-2-209. Modification, rescission and waiver.
Sec. 42a-2-209. Modification, rescission and waiver. (1) An agreement modifying a contract within this article needs no consideration to be binding.
(2) A signed agreement which excludes modification or rescission except by a
signed writing cannot be otherwise modified or rescinded, but except as between merchants such a requirement on a form supplied by the merchant must be separately signed
by the other party.
(3) The requirements of section 42a-2-201 must be satisfied if the contract as modified is within its provisions.
(4) Although an attempt at modification or rescission does not satisfy the requirements of subsection (2) or (3) it can operate as a waiver.
(5) A party who has made a waiver affecting an executory portion of the contract
may retract the waiver by reasonable notification received by the other party that strict
performance will be required of any term waived, unless the retraction would be unjust
in view of a material change of position in reliance on the waiver.
(1959, P.A. 133, S. 2-209.)
Cited. 166 C. 280.
Subsec. (5):
Cited. 190 C. 756.