(a) Except as otherwise provided in subsection (b) or elsewhere in this subtitle, the effect of provisions of this subtitle may be varied by agreement.
(b) The obligations of good faith, diligence, reasonableness, and care prescribed by this subtitle 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 this subtitle 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 this subtitle of the phrase “unless otherwise agreed”, or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 1 - General Provisions
Part 3 - Territorial Applicability and General Rules
§ 4-1-301. Territorial application of the subtitle — Parties' power to choose applicable law
§ 4-1-302. Variation by agreement
§ 4-1-303. Course of performance — Course of dealing — Usage of trade
§ 4-1-304. Obligation of good faith
§ 4-1-305. Remedies to be liberally administered
§ 4-1-306. Waiver or renunciation of claim or right after breach
§ 4-1-307. Prima facie evidence by third-party documents
§ 4-1-308. Performance or acceptance under reservation of rights