{"data":{"id":"us-nm/55-2-720","jurisdiction":"us-nm","citation":"55-2-720","heading":"Effect of \"cancellation\" or \"rescission\" on claims for antecedent breach.","body":"Unless the contrary intention clearly appears, expressions of \"cancellation\" or \"rescission\" of the contract or the like shall not be construed as a renunciation or discharge of any claim in damages for an antecedent breach.\nOFFICIAL COMMENTS\nUCC Official Comments © by ALI \u0026 the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.\nPrior uniform statutory provision. - None.\nPurpose. - This section is designed to safeguard a person holding a right of action from any unintentional loss of rights by the ill-advised use of such terms as \"cancellation\", \"rescission\", or the like. Once a party's rights have accrued they are not to be lightly impaired by concessions made in business decency and without intention to forego them. Therefore, unless the cancellation of a contract expressly declares that it is \"without reservation of rights\", or the like, it cannot be considered to be a renunciation under this section.\nCross reference. - Section 1-107.\n\"Cancellation\". Section 2-106.\n\"Contract\". Section 1-201.","path":["Chapter 55 - Uniform Commercial Code","ARTICLE 2 Sales"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"2ac499be46def757756268407c279fa8835f51ae63ab941307ae1d17f53dd313","source_id":"us-nm","stale":false,"prev":"us-nm/55-2-719","next":"us-nm/55-2-721"},"notice":"GroundRules: Original legal text. Not legal advice."}