(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this State and also to another state or nation, the parties may agree that the law either of this State or of such other state or nation shall govern their rights and duties. (b) In the absence of an agreement effective […]
(a) Except as otherwise provided in subsection (b) of this section or elsewhere in the Maryland Uniform Commercial Code, the effect of provisions of the Maryland Uniform Commercial Code may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by the Maryland Uniform Commercial Code may not be disclaimed by agreement. […]
(a) A “course of performance” is a sequence of conduct between the parties to a particular transaction that exists if: (1) The agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) The other party, with knowledge of the nature of the performance and opportunity for objection to it, […]
Every contract or duty within the Maryland Uniform Commercial Code imposes an obligation of good faith in its performance and enforcement.
(a) The remedies provided by the Maryland Uniform Commercial Code shall be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed, but neither consequential or special damages nor penal damages may be had except as specifically provided in the Maryland […]
A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record.
A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher’s or inspector’s certificate, consular invoice, or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts […]
(a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as “without prejudice”, “under protest”, or the like are sufficient. (b) Subsection (a) of this section does not apply to an […]
(a) A term providing that one party or that party’s successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure”, or words of similar import, means that the party has power to do so only if that party in good faith believes that […]
(a) An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. (b) Subordination does not create a security interest as against either the common debtor […]
