§ 25-9-603. Agreement on standards concerning rights and duties.
123 words·~1 min read·
/nc/chapter-25/25-9-603A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 25-9-603. Agreement on standards concerning rights and duties.
(a)Agreed standards. - The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in G.S. 25-9-602 if the standards are not manifestly unreasonable.
(b)Agreed standards inapplicable to breach of peace. - Subsection
(a)of this section does not apply to the duty under G.S. 25-9-609 to refrain from breaching the peace. (1866-7, c. 1, s. 2; 1872-3, c. 133, s. 2; 1883, c. 88; Code, s. 1800; 1893, c. 9; Rev., s. 2054; C.S., s. 2488; 1961, c. 574; 1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.)