{"id":208654,"date":"2021-07-27T19:06:23","date_gmt":"2021-07-27T06:06:23","guid":{"rendered":"https:\/\/legalvision.co.nz\/?p=208654"},"modified":"2021-08-17T20:08:19","modified_gmt":"2021-08-17T07:08:19","slug":"change-term-signed-contract","status":"publish","type":"post","link":"https:\/\/legalvision.co.nz\/commercial-contracts\/change-term-signed-contract\/","title":{"rendered":"How Do I Change a Term on a Signed Contract in NZ?"},"content":{"rendered":"\n

A signed contract is legally binding in New Zealand when all the elements of an enforceable agreement have been satisfied. If one of these elements is missing, the contract will be deemed null and void by the courts. Therefore, you can usually not change a <\/span>contract once it has been signed<\/span><\/a>. However, there are certain situations where you can change a term on a signed contract. This article will explain what those situations are and what needs to be considered.<\/span><\/p>\n\n\n\n

When Can a Term on a Signed Contract Be Changed?<\/span><\/h2>\n\n\n\n

It is important to remember that when dealing with contracts, both parties must agree to any changes. If you try and change your contract without the permission of your contracting party, you could <\/span>be in breach of the contract<\/span><\/a>. In addition, this could lead to being sued and being liable for damages for any loss incurred. Therefore, you should always ensure you change your term in alignment with the requirements of a binding contract.\u00a0<\/span><\/p>\n\n\n\n

Creating a Binding Contract<\/h2>\n\n\n\n

The biggest issue with changing a term on a signed contract is making sure you change it in a way that satisfies the <\/span>requirements of a binding contract<\/span><\/a>. Therefore, you should follow the following steps when changing a term on a signed contract.<\/span><\/p>\n\n\n\n

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Enter an offer<\/b><\/p>\n<\/td>

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When changing a term on a contract, write to your contracting party with the term and the change you wish to alter. This should be unambiguous. In addition, you should state why you want to change and if you are open to a counter offer. <\/span><\/p>\n<\/td><\/tr>

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The party receiving the offer must validly accept it<\/b><\/p>\n<\/td>

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Your contracting party must then accept the change you have proposed. This must also be done clearly and in the same medium that the offer was made. If the acceptance is not via an approved method, the courts could find this unenforceable. <\/span><\/p>\n<\/td><\/tr>

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Consideration is given in writing<\/b><\/p>\n<\/td>

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The premise of a contract is that both parties either benefit or face a detriment due to the contract. Therefore, the term that is changed cannot mean that nothing is given to one of the parties. If consideration is not satisfied, the contract will not be binding.<\/span><\/p>\n<\/td><\/tr>

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Intention to change the term<\/b><\/p>\n<\/td>

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There must also be a clear intention from your contracting party that they wanted to change the term. This is why it is vital that your propose any changes in writing as it records your intention to vary terms. <\/span><\/p>\n<\/td><\/tr>

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Certainty in the proposed changes<\/b><\/p>\n<\/td>

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The proposed change must also have certain terms. This means it should not include any ambiguity so that the courts can enforce it in a dispute. <\/span><\/p>\n<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\n

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