alteration of contract

A modification of the terms of a contract with the assent of both parties, in effect a new contract to be supported by a good consideration, except as consideration is made unnecessary by the circumstances of the case. 17 Am J2d Cont § 465. To alter or amend a contract is to change it as between the original parties and such others only, as have been permitted, by the mutual consent of the parties, to come into the enjoyment of its benefits and privileges; not to compel one of the parties to operate in conjunction with others, and share with them the privileges and benefits of the contract. Sage v Dillard, 54 Ky (15 B Mon) 340, 360.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • alteration — Variation; changing; making different. A change of a thing from one form or state to another; making a thing different from what it was without destroying its identity. See alter. An act done upon an instrument by which its meaning or language is …   Black's law dictionary

  • contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… …   Black's law dictionary

  • alteration — I noun adjustment, conversion, correction, difference, diversity, innovation, modification, modulation, reform, rehabilitation, reorganization, repair, revision, transition, transposition, variability, variance, variation associated concepts:… …   Law dictionary

  • alteration of instruments — A change in the meaning or language of a legal document, such as a contract, deed, lease, or commercial paper, that is made by one party to the document without the consent of the other after it has been signed or completed. Dictionary from West… …   Law dictionary

  • alteration, material — n. A change in the language of a contract that affects the rights defined by the contract. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • material alteration — A change in the terms of a written instrument which gives it a legal effect different from that which it originally had. Barton Sav. Bank & Trust Co. v Stephenson, 87 Vt 433, 89 A 639. An intentional act performed upon an instrument after it has… …   Ballentine's law dictionary

  • South African contract law — is essentially a modernised version of the Roman Dutch law of contract, [1] which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… …   Wikipedia

  • Government contract — Contracting with the U.S. Government is based on many of the same principles as commercial contracting andcan be very profitable, but is sufficiently different from commercial contracting to require special care.Persons entering into commercial… …   Wikipedia

  • material alteration — n: an alteration made to an instrument that adds or deletes any provision or changes the rights and obligations of any party under it Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. material alteration …   Law dictionary

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