New Mexico § 55-2A-208 Modification, rescission and waiver

New Mexico Statutes

§ 55-2A-208 — Modification, rescission and waiver

New Mexico § 55-2A-208

Ch. 55Uniform Commercial Code

Art. 2ALeases

This text of New Mexico § 55-2A-208 (Modification, rescission and waiver) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-2A-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lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.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) of this section, 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 p

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lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.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