General Laws

[ Text of section added by 2013, 30, Sec. 2 effective July 1, 2013 applicable as provided by 2013, 30, Sec. 116.]

  Section 1-302. (a) Except as otherwise provided in subsection (b) or elsewhere in this chapter, the effect of this chapter may be varied by agreement.

  (b) The obligations of good faith, diligence, reasonableness and care prescribed by this chapter may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever this chapter requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement.

  (c) The phrase "unless otherwise agreed'', or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.