|Addendum Meaning in Law|
Addendum Meaning in Law
Addendum meaning in law is an addition or supplement which is required to be to a legal document by the author.
The word addendum to contract comes from the Latin word “addendus” which means addition in the common English language. The word addendum is pronounced as “e-den-dem”.
Definition of addendum / what is an Addendum?
Definition of the addendum is a thing added (addition) or supplement in the contract or any other legal document.
The addendum real estate is something or a new document that is added to the previously existing contract or any document. In brief, in the existing contract, the parties to the contract mutually agreed to add something in way of supplement or addition to the existing contract or document. This is an addendum to contract meaning or legal document.
For example, an addendum to agreement means there is a contract between A and B that B agreed to purchase tons of sugar bags from A for $25 each bag. But A would be responsible for all transportation costs for the delivery of sugar bags. This is an addition to the contract.
Addendum in Contracts and other Legal Documents
In a contract or any other legal document, the addendum is an additional document to the pre-existing document. It is not the main part of the contract but an additional document to the contract. It is an ad-hoc document to the main/original document.
For example, the addition of terms and conditions to the contract or additional documents to the contract when there is non-performance of either party.
An addendum is also used in the standard form of contracts to make changes or addition of specific information to the contract or legal document.
An addendum example might be added to a contract to change the date or add details as to the delivery of goods or pricing.
Addendum: Synonyms and Antonyms
There are synonyms for the word addendum as an afterword, codicil, appendix, and supplement.
There are antonyms for word addendum as a foreword, introduction, preface, and prologue.
What is addendum in a document?
Addendum in a document means, an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document.
What is the purpose of an addendum?
An addendum is used to clarify and add things that were not initially part of the original contract or agreement. Think of addendums as additions to the original agreement (for example, adding a deadline where none existed in the original version).
What is an example of addendum?
Example of addendum – An example of an addendum being used would be if the parties wanted to add something to the original document. For instance, an individual who is purchasing a house may not want to purchase all of the furniture that is being left behind. However, after thinking about it further, he changes his mind.
What does addendum mean in a meeting?
Addendum meaning in a meeting is as with other portions of the contract, addendums often require signatures for all parties involved in the negotiation. This process provides the acknowledgement that the parties have reviewed and accepted the new or additional information. The addendum becomes a binding part of the contract.
How do addendums affect a contract?
An addendum provides supplementary information to an original contract, without negating its original terms. It is a separate document from the original contract. An amendment changes the existing terms of a contract to the new terms that are agreed upon by both parties.
An addendum is nothing but an addition or supplement to the pre-existing contract or any legal document. It is an ad-hoc document to the main document. In a contract, the document made for changing the date or place for the performance of a contract is the addendum to the contract.