A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record.
Source: L. 2006: Entire article R&RE, p. 468, § 1, effective September 1.
Editor's note: This section is similar to former § 4-1-107 as it existed prior to 2006.
Source: Former Section 1-107.
Changes from former law: This section changes former law in two respects. First, former Section 1-107, requiring the "delivery" of a "written waiver or renunciation" merges the separate concepts of the aggrieved party's agreement to forego rights and the manifestation of that agreement. This section separates those concepts, and explicitly requires agreement of the aggrieved party. Second, the revised section reflects developments in electronic commerce by providing for memorialization in an authenticated record.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 1 - General Provisions
Part 3 - Territorial Applicability and General Rules
§ 4-1-301. Territorial Applicability - Parties' Power to Choose Applicable Law
§ 4-1-302. Variation by Agreement
§ 4-1-303. Course of Performance, Course of Dealing, and 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