57A-2-209 Modification, rescission and waiver.
Modification, rescission and waiver.
An agreement modifying a
contract within this chapter
needs no consideration to be
A signed agreement which excludes modification or rescission except by a signed writing
cannot be otherwise modified or rescinded, but except as between merchants such a
requirement on a form supplied by the merchant must be separately signed by the other
The requirements of the statute of frauds section of this chapter (§ 57A-2-201) must be
satisfied if the contract as modified is within their provisions.
Although an attempt at modification or rescission does not satisfy the requirements of
subsections (2) or (3) it can operate as a waiver.
A party who has made a waiver affecting an executory portion of the 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.
SL 1966, ch 150, § 2-209; SDCL, §§ 57-3-19 to 57-3-23.