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In part three of this multi-part series on contracts, the focus shifts to the importance of properly amending contracts. After covering the basics in part one and key provisions related to liability in part two, the discussion emphasizes that every contract should include a provision that outlines the requirements for amendments. It is crucial to adhere to these requirements for any amendments to be legally valid. While detailed nuances will not be covered extensively, the speaker intends to highlight essential issues related to contract amendments that entrepreneurs and small businesses should consider.