§ 24-4.5-1-107 — Waiver; agreement to forego rights; settlement of claims

Indiana § 24-4.5-1-107

• Jurisdiction: Indiana
• Art. 4.5: UNIFORM CONSUMER CREDIT CODE
• Ch. 1: General Provisions and Definitions

Text

Waiver; Agreement to Forego Rights;
Settlement of Claims - (1) Except as otherwise provided in this Article,
a buyer, lessee, or debtor may not waive or agree to forego rights or
benefits under this Article.
(2) A claim by a buyer, lessee, or debtor against a creditor for an
excess charge, other violation of this Article, or civil penalty, or a claim
against a buyer, lessee, or debtor for default or breach of a duty
imposed by this Article, if disputed in good faith, may be settled by
agreement.
(3) A claim, whether or not disputed against a buyer, lessee or
debtor may be settled for less value than the amount claimed.
(4) A settlement in which the buyer, lessee, or debtor waives or
agrees to forego rights or benefits under this Article 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 buyer,
lessee, or debtor, any deception or coercion practiced upon him, the
nature and extent of the legal advice received by him, and the value of
the consideration are relevant to the issue of unconscionability.
Formerly: Acts 1971, P.L.366, SEC.2.