50-625. Waiver; agreement to forego rights; settlement of claims.
50-625
50-625. Waiver; agreement to forego rights; settlement of claims.(a) Except as otherwise provided in this act, a consumer may not waiveor agree to forego rights or benefits under this act.
(b) A claim, whether or not disputed, by or against a consumer may besettled for less value than the amount claimed.
(c) A settlement in which the consumer waives or agrees to forego rightsor benefits under this act is invalid if the court finds the settlement tohave been unconscionable at the time it was made. The competence of theconsumer, any deception or coercion practiced upon the consumer, the nature andextent of the legal advice received by the consumer, and the value of theconsideration are relevant to the issue of unconscionability.
History: L. 1973, ch. 217, § 3; Jan. 1, 1974.