59.1-503.4 - Continuing contractual terms. - Virginia Statutes

§ 59.1-503.4. Continuing contractual terms.

(a) Terms of an agreement involving successive performances apply to allperformances, even if the terms are not displayed or otherwise brought to theattention of a party with respect to each successive performance, unless theterms are modified in accordance with this chapter or the contract.

(b) If a contract provides that terms may be changed as to futureperformances by compliance with a described procedure, a change proposed ingood faith pursuant to that procedure becomes part of the contract if theprocedure:

(1) reasonably notifies the other party of the change; and

(2) in a mass-market transaction, permits the other party to terminate thecontract as to future performance if the change alters a material term andthe party in good faith determines that the modification is unacceptable.

(c) The parties by agreement may determine the standards for reasonablenotice unless the agreed standards are manifestly unreasonable in light ofthe commercial circumstances.

(d) The enforceability of changes made pursuant to a procedure that does notcomply with subsection (b) is determined by the other provisions of thischapter or other law.

(2000, cc. 101, 996.)