70A-1a-302 - Variation by agreement. - Utah Statutes

70A-1a-302. Variation by agreement.
(1) Except as otherwise provided in Subsection (2) or elsewhere in this title, the effect ofprovisions of this title may be varied by agreement.
(2) The obligations of good faith, diligence, reasonableness, and care prescribed by thistitle may not be disclaimed by agreement. The parties, by agreement, may determine thestandards by which the performance of those obligations is to be measured if those standards arenot manifestly unreasonable. Whenever this title requires an action to be taken within areasonable time, a time that is not manifestly unreasonable may be fixed by agreement.
(3) The presence in certain provisions of this title of the phrase "unless otherwiseagreed," or words of similar import, does not imply that the effect of other provisions may not bevaried by agreement under this section.

Enacted by Chapter 272, 2007 General Session