What is a material alteration of a contract?

A material alteration of a contract is a type of change that affects the fundamental purpose of the contract. In Mississippi, a material alteration of a contract is not viewed in the same way as a minor alteration. This is because the material alteration has the potential to cause a breach of contract or to change the rights, obligations, or expectations of either party. Material alterations are major changes that alter the core meaning or purpose of the contract. Material alterations may include changing the time period in which a contract must be performed, changing payment terms, or adding a new section to the contract. In some cases, a material alteration can be a simple adjustment to the language of the existing contract. It is important to note that material alterations are different than minor alterations. Minor alterations do not change the core meaning or purpose of the contract and can usually be agreed upon by the parties without a new agreement being created. A material alteration, on the other hand, requires a new agreement between the parties to be created in order to alter the existing agreement. When it comes to material alterations in Mississippi, it is important for both parties to carefully consider any changes they are making to an existing contract. Making a material alteration to a contract can alter the rights and obligations of each party involved, so it is best to discuss changes with the other party before agreeing to them.

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