Delaware Code Title 6 Sec. 4311 – Provisions prohibited in contracts
No contract or obligation shall contain any provision by which:
(1) The buyer agrees not to assert against a seller a claim or defense arising out of the sale or agrees not to assert against an assignee such a claim or defense other than as provided in § 4312 of this title;
(2) In the absence of the buyer’s default in the performance of any obligations, the holder may, arbitrarily and without reasonable cause, accelerate the maturity of any part or all of the amount owing thereunder;
(3) The seller or holder of the contract or other person acting as agent is given authority to enter upon the buyer’s premises unlawfully or to commit any breach of the peace in the repossession of goods;
(4) The buyer waives any right of action against the seller or holder of the contract or other person acting as agent, for any illegal act committed in the collection of payments under the contract or in the repossession of goods;
(5) The buyer executes a power of attorney appointing the seller or holder of the contract, or other person acting as agent, as the buyer’s agent in the repossession of goods;
(6) The buyer relieves the seller from liability for any legal remedies which the buyer may have against the seller under the contract or any separate instrument executed in connection therewith.
6 Del. C. 1953, § ?4311; 52 Del. Laws, c. 342; 70 Del. Laws, c. 186, § ?1;
Terms Used In Delaware Code Title 6 Sec. 4311
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC