HRS 0490-0002-0720 ANNOTATIONS

Prior Uniform Statutory Provision: None.

Purposes:

This section is designed to safeguard a person holding a right of action from any unintentional loss of rights by the ill-advised use of such terms as "cancellation", "rescission", or the like. Once a party's rights have accrued they are not to be lightly impaired by concessions made in business decency and without intention to forego them. Therefore, unless the cancellation of a contract expressly declares that it is "without reservation of rights", or the like, it cannot be considered to be a renunciation under this section.

Cross References:

Section 1-107.

Definitional Cross References:

"Cancellation". Section 2-106.

"Contract". Section 1-201.