Indiana § 26-1-2.1-208 Modification, rescission, and waiver

Indiana Statutes

§ 26-1-2.1-208 — Modification, rescission, and waiver

Indiana § 26-1-2.1-208

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 2.1Leases

This text of Indiana § 26-1-2.1-208 (Modification, rescission, and waiver) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-2.1-208 (2026).

Text

(1)An agreement modifying a lease contract needs no consideration to be binding.

(2)A signed lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.

(3)Although an attempt at modification or rescission does not satisfy the requirements of subsection (2), it may operate as a waiver.

(4)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 relia

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(1) An agreement modifying a lease
contract needs no consideration to be binding.
(2) A signed lease agreement that excludes modification or
rescission except by a signed record 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rescinded, but, except as between merchants, such a requirement on a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.
(3) Although an attempt at modification or rescission does not
satisfy the requirements of subsection (2), it may operate as a waiver.
(4) 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.