How To Modify An Existing Business Contract In Florida

Florida is one of the most prolific places for business in the world, which results in thousands of contracts getting signed almost non-stop.?

Plus, the variety of business spread throughout the state also contribute to the existence of a wide array of legal agreement with unique terms and provisions. However, what to do when you need to modify a contract that already exists??

In this article, you will find out how to?modify an existing business contract?in Florida.

Back to Basics – Understanding the Nature of Legal Agreements

There are several ways to modify an existing contract in Florida. The parties involved in a legal?agreement?can either modify it orally or in writing. However, modifying a contract orally is never the recommendable approach.?

After sitting down and discussing the necessary changes to a contract, the parties involved can proceed with its modification. Then, they need to amend or add new terms to the existing contracts, all done in writing.?

After modifying a contract, the parties involved must abide by the modified terms and provisions. Hence, if one party does not abide by the new clauses, the other party may have a breach of contract claim.?

It is crucial noting that, although modifications are enforceable by law, sometimes proving there was in fact a modification can be a complex task. Usually, contract modifications involve expensive costs for both parties involved, as well as disputes and contention.

Regardless of the company’s size or business structure, the safest way to modify an existing contract in Florida is seeking guidance from an?expert business attorney?from Jurado and Farshchian, P.L.

Modifying an Existing Contract in Florida – Contract Amendments vs Contract Addendum

Usually, the seamless way to modify an existing contract is to insert a set of new provisions, which can be done either by a contract amendment or a contract addendum. Although both legal tools have similarities, they have distinct in their nature.?

When the parties involved in a contract choose to sign a contractual amendment, they can change the terms of the legal agreement – either as a whole or in part. Meanwhile, an addendum only adds additional terms to an existing contract, while keeping the rest untouched.

Contract Amendments in Florida – Is it the Best Option to Modify an Existing Contract?

As provided by contract law, a legal amendment permits the parties involved in a legal agreement to add to an existing contract, delete from it, or change parts of it.?

Consequently, while the contract remains in place, they can have some terms altered as required by the circumstances. Notice that changes made during a process of negotiation are not amendments, as there is no existing contract in place yet.

While an amendment can be a practical solution in most cases, the best approach is to have your situation assessed by an expert contract attorney in Florida.

Modifying an Existing Contract in Florida – Understanding the Legal Implications

Although many cases can be easily solved, contract modifications may not always be seamless and agreeable. Situations involving unexpected circumstances or events usually demand businesses to have immediate – and solid- responses.

In this sense, the most reliable way to assess and understand the legal implications of modifying a specific contract is to rely on the experienced and knowledge of an expert business attorney.

How to Modify an Existing Business Contract in Florida – Work with Jurado and Farshchian, P.L.

Undoubtedly, modifying an existing business contract is a complex and demanding task, which requires a strategic approach. Hence, waste no time and money with uncertainty.?

Contact Attorney Romy B. Jurado today by calling?(305) 921-0440?or emailing?[email protected]?to schedule a consultation.

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