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Texas Business & Commerce Code - Section 2.209. Modification, Rescission And Waiver

Legal Research Home > Texas Laws > Business & Commerce Code > Texas Business & Commerce Code - Section 2.209. Modification, Rescission And Waiver

§ 2.209. 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or rescinded, but except as between merchants such a requirement on 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 2.201) 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) 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.

Acts 1967, 60th Leg., p. 2343, ch. 785, § 1, eff. Sept. 1, 1967.           

Last modified: August 11, 2007