Nevada § 104.2209 - Modification, rescission and waiver

§ 104.2209. Modification, rescission and waiver

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writing or other signed record cannot be otherwise modified or rescinded, but except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 ( NRS 104.2201 ) 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.