Oklahoma Statutes
§ 12A-2A-208 — Modification, rescission, and waiver.
Oklahoma·Title 12A Uniform Commercial Code
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lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.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 unj
Free access — add to your briefcase to read the full text and ask questions with AI
Oklahoma § 12A-2A-208 (Modification, rescission, and waiver.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Laws 1988, c. 86, § 17, eff. Nov. 1, 1988. Amended by Laws 2024, c. 13, § 19, eff. Nov. 1, 2024.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.