Cornerstone Equipment Leasing, Inc. v. MacLeod
Court of Appeals of Washington, Division 1
247 P.3d 790 (Wash. App. 2011)
After repeatedly extending the due date on MacLeod's (defendant's) promissory note to Cornerstone (plaintiff), MacLeod claimed Cornerstone's president had orally waived the remaining balance for a future business deal and later said they were "even," though MacLeod gave no consideration for that purported waiver; when Cornerstone later demanded payment on the note by letter and MacLeod refused to pay, Cornerstone sued and won summary judgment, which MacLeod appealed, arguing Cornerstone never effectively revoked its waiver.
Whether waiver of a contract condition may be revoked if the party benefiting from the waiver did not materially change its position in reliance on the waiver.