(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lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, in a consumer lease such a requirement on a form supplied by a lessor must be conspicuous.
(3) Although an attempt at modification or rescission does not satisfy the requirements of subsection (2), 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 unjust in view of a material change of position and reliance on the waiver.
Structure Maryland Statutes
Subtitle 2 - Formation and Construction of Lease Contract
Section 2A-201 - Statute of Frauds
Section 2A-202 - Final Written Expression: Parol or Extrinsic Evidence
Section 2A-203 - Seals Inoperative
Section 2A-204 - Formation in General
Section 2A-206 - Offer and Acceptance in Formation of Lease Contract
Section 2A-208 - Modification, Rescission and Waiver
Section 2A-209 - Lessee Under Finance Lease as Beneficiary of Supply Contract
Section 2A-210 - Express Warranties
Section 2A-212 - Implied Warranty of Merchantability
Section 2A-213 - Implied Warranty of Fitness for Particular Purpose
Section 2A-214 - Exclusion or Modification of Warranties
Section 2A-214.1 - Limitation of Exclusion or Modification of Warranties to Consumers
Section 2A-215 - Cumulation and Conflict of Warranties Express or Implied
Section 2A-216 - Third-Party Beneficiaries of Express and Implied Warranties
Section 2A-217 - Identification
Section 2A-218 - Insurance and Proceeds