SECTION 672.209. Modification, rescission, and waiver.

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1(1) 2An agreement modifying a contract within this chapter needs no consideration to be binding.
16(2) 17A signed agreement which excludes modification or rescission except by a signed writing cannot be otherwise modified or rescinded, but except as between merchants such a requirement on a form supplied by the merchant must be separately signed by the other party.
59(3) 60The requirements of the statute of frauds section of this chapter (s. 72672.20173) must be satisfied if the contract as modified is within its provisions.
86(4) 87Although an attempt at modification or rescission does not satisfy the requirements of subsection (2) or (3) it can operate as a waiver.
110(5) 111A 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.

History.-s. 1, ch. 65-254.

Note

Note.-s. 2-209, U.C.C.

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Cited by Court Cases:

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