{"data":{"id":"us-ky/krs-355.2-209","jurisdiction":"us-ky","citation":"KRS 355.2-209","heading":"Modification, rescission, and waiver.","body":"(1) An agreement modifying a contract within this article needs no consideration to be\nbinding.\n(2) A signed agreement that excludes modification or rescission except by a signed\nwriting or other signed record cannot be otherwise modified or rescinded, but,\nexcept as between merchants, such a requirement on a form supplied by the\nmerchant must be separately signed by the other party.\n(3) The requirements of the statute of frauds section of this article (KRS 355.2 -201)\nmust be satisfied if the contract as modified is within its provisions.\n(4) Although an attempt at modification or rescission does not satisfy the requirements\nof subsection (2) or (3) of this section, it can operate as a waiver.\n(5) A party who has made a waiver affecting an executory portion of t he contract may\nretract the waiver by reasonable notification received by the other party that strict\nperformance will be required of any term waived, unless the retraction would be\nunjust in view of a material change of position in reliance on the waiver.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55635","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:41Z","sha256":"d26389af94bdc22910ccc065bf72cff9e3d675980b65253c55597c78c3a7cb91","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2-208","next":"us-ky/krs-355.2-210"},"notice":"GroundRules: Original legal text. Not legal advice."}