§ 25-1-302. Variation by agreement. - North Carolina Statutes

§ 25‑1‑302. Variation by agreement.

(a)        Except as otherwiseprovided in subsection (b) of this section or elsewhere in this Chapter, theeffect of provisions of this Chapter may be varied by agreement.

(b)        The obligations ofgood faith, diligence, reasonableness, and care prescribed by this Chapter maynot be disclaimed by agreement. The parties, by agreement, may determine thestandards by which the performance of those obligations is to be measured ifthose standards are not manifestly unreasonable. Whenever this Chapter requiresan action to be taken within a reasonable time, a time that is not manifestlyunreasonable may be fixed by agreement.

(c)        The presence incertain provisions of this Chapter of the phrase "unless otherwiseagreed," or words of similar import, does not imply that the effect ofother provisions may not be varied by agreement under this section. (1899, c. 733, s. 193; Rev.,s. 2343; C.S., s. 2978; 1965, c. 700, s. 1; 2006‑112, s. 1.)