Contract Law

Terms and Parties

Interpreting and Changing a Contract

Contracts are interpreted in accordance with the apparent intentions of the parties. A written contract is interpreted first by reference to the document alone. That is, regardless of what is said or assumed in negotiation, accepted as fair, or known in common practice, the wording is paramount. For this reason one must always read the fine print when the stakes are high...

 

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Re-negotiation

If the terms are no longer suitable for any reason – a change in supply prices, the applicable laws, or market demand, for example, you may want to change the terms of the contract. The agreement with the other party remains as is, unless re-negotiated lawfully.

 

This normally requires detailed communication, signatures and so forth. But it is common practice for banks, utility providers and the like to send out amended terms by post expecting the customer to agree automatically....

 

ORDER FOR FULL TEXT.