§ 6A-2.1-208. Modification, rescission, and waiver.
(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lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.
(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 in reliance on the waiver.
History of Section.P.L. 1991, ch. 305, § 1.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Part 2 - Formation and Construction of Lease Contract
Section 6A-2.1-201. - Statute of frauds.
Section 6A-2.1-202. - Final written expression: parol or extrinsic evidence.
Section 6A-2.1-203. - Seals inoperative.
Section 6A-2.1-204. - Formation in general.
Section 6A-2.1-205. - Firm offers.
Section 6A-2.1-206. - Offer and acceptance in formation of lease contract.
Section 6A-2.1-207. - [Reserved.]
Section 6A-2.1-208. - Modification, rescission, and waiver.
Section 6A-2.1-209. - Lessee under finance lease as beneficiary of supply contract.
Section 6A-2.1-210. - Express warranties.
Section 6A-2.1-212. - Implied warranty of merchantability.
Section 6A-2.1-213. - Implied warranty of fitness for particular purpose.
Section 6A-2.1-214. - Exclusion or modification of warranties.
Section 6A-2.1-215. - Cumulation and conflict of warranties express or implied.
Section 6A-2.1-216. - Third party beneficiaries of express and implied warranties.
Section 6A-2.1-217. - Identification.
Section 6A-2.1-218. - Insurance and proceeds.
Section 6A-2.1-219. - Risk of loss.
Section 6A-2.1-220. - Effect of default on risk of loss.
Section 6A-2.1-221. - Casualty to identified goods.
Section 6A-2.1-222. - Effect of tax increase on lease payments.