California Commercial Code 1306 – A claim or right arising out of an alleged breach may be discharged …
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A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in a signed record.
(Amended by Stats. 2023, Ch. 210, Sec. 4. (SB 95) Effective January 1, 2024.)
Terms Used In California Commercial Code 1306
- Aggrieved party: means a party entitled to pursue a remedy. See California Commercial Code 1201
- agreement: means the total legal obligation that results from the parties' agreement as determined by this code and as supplemented by any other applicable laws. See California Commercial Code 1201
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See California Commercial Code 1201
- Right: includes remedy. See California Commercial Code 1201