Utah Statutes
§ 70A-2-209 — Modification, rescission and waiver.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-2 Uniform Commercial Code - Sales·Part 70A-2-2 Form, Formation, and Readjustment of Contract
(1)An agreement modifying a contract within this chapter needs no consideration to be binding.
(2)A signed agreement which excludes modification or rescission except by a signed writing cannot be otherwise modified or rescinded, but except as between merchants such a requirement on a form supplied by the merchant must be separately signed by the other party.
(3)The requirements of the statute of frauds section of this chapter (Section 70A-2-201) must be satisfied if the contract as modified is within its provisions.
(4)Although an attempt at modification or rescission does not satisfy the requirements of Subsection (2) or (3) it can operate as a waiver.
(5)A party who has made a waiver affecting an executory portion of the contract may retract the waiver by reasonable notification rec
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Related
Lake Philgas Service v. Valley Bank & Trust Co.
845 P.2d 951 (Court of Appeals of Utah, 1993)
Legislative History
Enacted by Chapter 154, 1965 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.