§ 28:9-603. Agreement on standards concerning rights and duties.

Current through October 23, 2012

(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in § 28:9-602 if the standards are not manifestly unreasonable.

(b) Subsection (a) does not apply to the duty under § 28:9-609 to refrain from breaching the peace.

                
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(Oct. 26, 2000, D.C. Law 13-201, § 101, 47 DCR 7576.)

HISTORICAL AND STATUTORY NOTES

UNIFORM COMMERCIAL CODE COMMENT

Source

Former Section 9-501(3).

Limitation on Ability to Set Standards

Subsection (a), like former Section 9-501(3), permits the parties to set standards for compliance with the rights and duties under this Part if the standards are not "manifestly unreasonable." Under subsection (b), the parties are not permitted to set standards measuring fulfillment of the secured party's duty to take collateral without breaching the peace.

Legislative History of Laws

For Law 13-201, see notes following § 28:9-101.