Although such a gratuitous promise would be otherwise unenforceable, under the UCC, any claim arising out of an alleged breach of contract can be discharged by a written renunciation signed and delivered by the aggrieved party.

Gratuitous Promise

A promise made without requiring some benefit or thing of value in return; not enforceable as a contract because it lacks consideration.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, intended to standardize and simplify the law across jurisdictions.

Renunciation

The formal rejection of a claim, right, or possession, usually involving a legal or official declaration.