Maryland Code, COMMERCIAL LAW 22-304
Terms Used In Maryland Code, COMMERCIAL LAW 22-304
- Contract: A legal written agreement that becomes binding when signed.
(b) If a contract provides that terms may be changed as to future performances by compliance with a described procedure, a change proposed in good faith pursuant to that procedure becomes part of the contract if the procedure:
(1) Reasonably notifies the other party of the change; and
(2) In a mass-market transaction, permits the other party to terminate the contract as to future performance if the change alters a material term and the party in good faith determines that the modification is unacceptable.
(c) The parties by agreement may determine the standards for reasonable notice unless the agreed standards are manifestly unreasonable in light of the commercial circumstances.
(d) The enforceability of changes made pursuant to a procedure that does not comply with subsection (b) of this section is determined by the other provisions of this title or other law.