47-2209. Modification, rescission and
waiver
A. An agreement modifying a contract within this chapter needs no consideration to
be binding.
B. 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writing cannot be otherwise modified or rescinded, but except as between merchants such a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.
C. The requirements of the statute of frauds section of this chapter (section
47-2201) must be satisfied if the contract as modified is within its provisions.
D. Although an attempt at modification or rescission does not satisfy the
requirements of subsection B or C of this section it can operate as a waiver.
E. 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.
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