Prior Uniform Statutory Provision: None.

Purposes:

The several preceding sections deal elaborately with questions of priority. This Section is inserted to make it entirely clear that a person entitled to priority may effectively agree to subordinate his claim. Only the person entitled to priority may make such an agreement: his rights cannot be adversely affected by an agreement to which he is not a party.

Cross References:

Sections 1-102 and 9-312(1).

Definitional Cross References:

"Agreement". Section 1-201.

"Person". Section 1-201.