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What is the difference between an amendment and an agreement?

An amendment is typically used to change something thats part of an original contract. Think of amendments as modifications to the earliest agreement (for example, altering an agreed-upon deadline). An addendum is used to clarify and add things that were not initially part of the original contract or agreement.

Why do you amend a contract?

Even after a contract is signed, however, sometimes the parties involved may want to review and change specific aspects of it. When this happens, contract amendments are needed. Contract amendments are changes to an original contract that are wholly and mutually agreed on by all the parties involved in the contract.

Can you amend a contract retroactively?

Any amendment may be made retroactively.

What is an amendment example?

An amendment is often an addition or correction that leaves the original document substantially intact. Other times an amendment can strike the original text entirely and substitute it with new language. The U.S. Constitution is one example of the use of amendments.

When can you modify a contract?

You can modify a contract at any time as long as all parties involved in the agreement consent to the changes. Minor modifications may be handwritten on the original document and then signed by all parties. Major changes, however, need to involve a contract renegotiation, reprinting, and resigning.

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