The General Addendum To Contract Of Sale serves as a crucial tool for parties needing to modify their existing sales agreements without creating an entirely new contract. This document is commonly used when circumstances require changes to price, delivery terms, specifications, or other contract elements. Under U.S. law, particularly the Uniform Commercial Code, such modifications must be properly documented and agreed upon by all parties. The addendum ensures legal compliance while providing flexibility to adapt to changing business needs.
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1. Parties: Identification of all parties to the original contract and addendum
2. Background: Reference to original contract and reason for addendum
3. Definitions: Key terms used in the addendum
4. Modifications: Specific changes to the original contract
5. Effect on Original Agreement: Statement on how original contract terms remain in effect
6. Execution: Signature blocks and date of modification
1. Additional Consideration: Section detailing new value exchanged for modifications, used when additional payment or value is part of the modification
2. Time Extensions: Section covering modified deadlines or timeframes, used when changing any temporal aspects of the original contract
3. Conditional Clauses: Section outlining conditions precedent to modification effectiveness, used when modifications depend on specific events or conditions
1. Schedule A - Modified Terms: Detailed list of specific modifications to original contract
2. Schedule B - Revised Pricing: Details of price modifications if applicable
3. Schedule C - Timeline Changes: Modified delivery or performance schedules if applicable
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