(a) An agreement modifying a lease contract does not need consideration to be binding.
(b) A signed lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.
(c) Although an attempt at modification or rescission does not satisfy the requirements of (b) of this section, it may operate as a waiver.
(d) A party who has made a waiver affecting an executory portion of a lease 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.
Section: Previous 45.12.201 45.12.202 45.12.203 45.12.204 45.12.205 45.12.206 45.12.207 45.12.208 45.12.209 45.12.210 45.12.211 45.12.212 45.12.213 45.12.214 45.12.215 NextLast modified: November 15, 2016