2018 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 2A - Leases
Section 55-2A-107 - Waiver or renunciation of claim or right after default.
Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party.
History: 1978 Comp., § 55-2A-107, enacted by Laws 1992, ch. 114, § 14.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Uniform Statutory Source. — Section 1-107.
Changes. — Revised to reflect leasing practices and terminology. This clause is used throughout the official comments to this Article to indicate the scope of change in the provisions of the Uniform Statutory Source included in the section; these changes range from one extreme, e.g., a significant difference in practice (a warranty as to merchantability is not implied in a finance lease (Section 2A-212) [55-2A-212 NMSA 1978]) to the other extreme, e.g., a modest difference in style or terminology (the transaction governed is a lease not a sale (Section 2A-203) [55-2A-203 NMSA 1978]).
Cross References. — Sections 2A-203 and 2A-212 [55-2A-203 and 55-2A-212 NMSA 1978, respectively].
"Aggrieved party". Section 1-201(2) [55-1-201 NMSA 1978].
"Delivery". Section 1-201(14) [55-1-201 NMSA 1978].
"Rights". Section 1-201(36) [55-1-201 NMSA 1978].
"Signed". Section 1-201(39) [55-1-201 NMSA 1978].
"Written". Section 1-201(46) [55-1-201 NMSA 1978].
Effective dates. — Laws 1992, ch. 114, § 238 made Laws 1992, ch. 114, § 14 effective July 1, 1992.
