Legal Term
Contract Amendment
Legal Definition
A contract amendment is a formal, mutually agreed-upon modification to an existing contract that alters, adds to, or deletes specific terms while leaving the rest of the agreement intact.
In Plain English
An official change to a contract that all parties must agree to, like updating a rule or condition after the original deal is signed.
Example in a Contract
From a vintage clothing reseller platform agreement: 'Section 4.3 is hereby amended to read: "Reseller must submit inventory listings by the 5th of each month, instead of the 10th, to qualify for premium placement on the platform."'
Related Terms
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