A. An agreement modifying a contract within this Article needs no consideration to be binding.

B. An agreement in a signed record which excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but except as between merchants such a requirement in a form supplied by the merchant must be separately signed by the other party.

C. The requirements of 27A ONC § 2-201 must be satisfied if the contract as modified is within its provisions.

D. Although an attempt at modification or rescission does not satisfy the requirements of subsection (B) or (C) of this section, it may operate as a waiver.

E. A party that has made a waiver affecting an executory portion of a contract may retract the waiver by reasonable notification received by the other party that strict performance will be required of any term waived, unless the retraction would be unjust in view of a material change of position in reliance on the waiver. ONCA 13-23, eff. Sept. 24, 2013.