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In this video, the speaker explains the difference between an addendum and an amendment in the context of a legally binding contract, specifically a residential purchase agreement. They highlight that sometimes, changes or additions need to be made to this contract, referred to as "DNA." The speaker uses a relatable analogy involving ordering a sandwich to illustrate the concepts. By providing a simple example of requesting specific ingredients, they aim to clarify how adjustments can be implemented within a contract without altering the original agreement. The focus is on understanding these legal terms and their applications in real scenarios.
