Section 22-303 - Modification and rescission. - Maryland Statutes

§ 22-303. Modification and rescission.
 

(a)  No consideration to be binding.- An agreement modifying a contract subject to this title needs no consideration to be binding. 

(b)  Preclusion by authenticated record.- An authenticated record that precludes modification or rescission except by an authenticated record may not otherwise be modified or rescinded. In a standard form supplied by a merchant to a consumer, a term requiring an authenticated record for modification of the contract is not enforceable unless the consumer manifests assent to the term. 

(c)  Satisfaction of certain provisions.- A modification of a contract and the contract as modified must satisfy the requirements of §§ 22-201 (a) and 22-307 (g) of this title if the contract as modified is within those provisions. 

(d)  Attempt which operates as waiver.- An attempt at modification or rescission which does not satisfy subsection (b) or (c) of this section may operate as a waiver if § 22-702 of this title is satisfied. 
 

[2000, ch. 11; ch. 61, § 6.]