Okla. Stat. tit. 12A, § 12A-2-209
This is the official text of Okla. Stat. tit. 12A, § 12A-2-209, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Modification, Rescission and Waiver
Official statutory text
(1) An agreement modifying a contract within this article needs
no consideration to be binding.
(2) A signed agreement which excludes modification or
rescission except by a signed writing or other signed record 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be otherwise modified or rescinded, but except as between merchants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 party.
(3) The requirements of the statute of frauds section of this
article (Section 2-201) must be satisfied if the contract as
modified is within its provisions.
(4) Although an attempt at modification or rescission does not
satisfy the requirements of subsection (2) or (3) it can operate as
a waiver.
(5) 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.
no consideration to be binding.
(2) A signed agreement which excludes modification or
rescission except by a signed writing or other signed record 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be otherwise modified or rescinded, but except as between merchants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 party.
(3) The requirements of the statute of frauds section of this
article (Section 2-201) must be satisfied if the contract as
modified is within its provisions.
(4) Although an attempt at modification or rescission does not
satisfy the requirements of subsection (2) or (3) it can operate as
a waiver.
(5) 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.
Status: in_force · Read it on the official government site
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