§ 6A-2.1-208 - Modification, rescission, and waiver.
SECTION 6A-2.1-208
§ 6A-2.1-208 Modification, rescission, andwaiver. – (1) An agreement modifying a lease contract needs no consideration to bebinding.
(2) A signed lease agreement that excludes modification orrescission except by a signed writing may not be otherwise modified orrescinded, but, except as between merchants, such a requirement on a formsupplied by a merchant must be separately signed by the other party.
(3) Although an attempt at modification or rescission doesnot satisfy the requirements of subsection (2), it may operate as a waiver.
(4) A party who has made a waiver affecting an executoryportion of a lease contract may retract the waiver by reasonable notificationreceived by the other party that strict performance will be required of anyterm waived, unless the retraction would be unjust in view of a material changeof position in reliance on the waiver.