§ 5-1-106 — Waiver - agreement to forego rights - settlement of claims

Colorado § 5-1-106

• Jurisdiction: Colorado
• Title 05: Consumer
• Art.: General Provisions and Definitions

Text

(1)
Except as otherwise provided in this code, a consumer may not waive or agree to
forego rights or benefits under this code.

(2) A claim by a consumer against a creditor for an excess charge, other
violation of this code, or civil penalty, or a claim against a consumer for default or
breach of a duty imposed by this code, if disputed in good faith, may be settled by
agreement.

(3) A claim, whether or not disputed, against a consumer, may be settled for
less value than the amount claimed.

(4) A settlement in which the consumer waives or agrees to forego rights or
benefits under this code is invalid if the court as a matter of law finds the
settlement to have been unconscionable at the time it was made. The competence
of the consumer, any deception or coercion practiced upon the consumer, the
nature and extent of the legal advice received by the consumer, and the value of
the consideration are relevant to the issue of unconscionability.

Legislative History

Source: L. 2000: Entire article R&RE, p. 1179, � 1, effective July 1.