70C-2-206 Settlement of claims. (1) A claim by a debtor against a creditor for an excess charge, other violation of this title, or civil
penalty if disputed in good faith, may be settled by agreement for less value than the amount claimed, unless a court, as a matter of law, finds the settlement to have been unconscionable at the time it was made.
(2) A claim, whether or not disputed, against a debtor may be settled for less value than the amount claimed.
Enacted by Chapter 159, 1985 General Session