Waiver - Agreement to forego rights - Settlement of claims

(1) Except as otherwise provided in this act, a buyer, lessee or debtor may not waive or agree to forego rights or benefits under this act. (2) A claim by a buyer, lessee, or debtor against a creditor for an excess charge, other violation of this act, or civil penalty, or a claim against a buyer, lessee, or debtor for default or breach of a duty imposed by this act, if disputed in good faith, may be settled by agreement. (3) A claim, whether or not disputed, against a buyer, lessee or debtor may be settled for less value than the amount claimed. Added by Laws 1969, c. 352, § 1-107, eff. July 1, 1969.