Sec. 42a-2A-302. Modification, rescission and waiver.
Sec. 42a-2A-302. Modification, rescission and waiver. (a) An agreement made
in good faith modifying a lease contract needs no consideration to be binding.
(b) An authenticated record containing a term that prohibits modification or rescission except by an authenticated record may not be otherwise modified or rescinded.
Such a term in a form or record supplied by a merchant to a nonmerchant must be
separately authenticated. A party whose language or conduct is inconsistent with the
term is precluded from asserting the term if the assertion is unjust in view of a material
change of position in reliance on the language or conduct.
(c) A condition in a lease contract may be waived by the party for whose benefit it
was included. Language or conduct is relevant to show a waiver. A party that has made
a waiver affecting an executory portion of a lease contract may retract the waiver by
reasonable notice 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.
(P.A. 02-131, S. 21.)