Virginia Statutes
§ 8.1A-302 — Variation by agreement
Virginia·Title 8.1A UNIFORM COMMERCIAL CODE — GENERAL PROVISIONS·Part 3 TERRITORIAL APPLICABILITY AND GENERAL RULES
(a)Except as otherwise provided in subsection (b) or elsewhere in the Uniform Commercial Code, the effect of provisions of the Uniform Commercial Code may be varied by agreement.
(b)The obligations of good faith, diligence, reasonableness, and care prescribed by the Uniform Commercial Code may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever the Uniform Commercial Code requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement.
(c)The presence in certain provisions of the Uniform Commercial Code of the phrase "unless otherwise agreed," or words of similar imp
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Legislative History
1964, c. 219, §§ 8.1-102, 8.1-204; 2003, c. 353.
Nearby Sections
15
§ 8.1A-101
Short titles§ 8.1A-102
Scope of title§ 8.1A-104
Construction against implied repeal§ 8.1A-105
Repealed§ 8.1A-106
Use of singular and plural; gender§ 8.1A-107
Section captions§ 8.1A-201
General definitions§ 8.1A-202
Notice; knowledge§ 8.1A-204
Value§ 8.1A-205
Reasonable time; seasonableness§ 8.1A-206
Presumptions