New Jersey § 12A:2A-208 Modification, rescission and waiver

New Jersey Statutes

§ 12A:2A-208 — Modification, rescission and waiver

New Jersey § 12A:2A-208

Title 12ACOMMERCIAL TRANSACTIONS

This text of New Jersey § 12A:2A-208 (Modification, rescission and waiver) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 12A:2A-208 (2026).

Text

12A:2A-208. Modification, rescission and waiver.

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lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.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

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12A:2A-208. Modification, rescission and waiver. (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lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.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. L.1994,c.114,s.1.