What is a material alteration of a contract?

A material alteration of a contract is a change that alters the legal rights or obligations of either party. This type of alteration typically involves one party changing the terms of a contract without the knowledge or agreement of the other party. In Tennessee, a material alteration is legally binding only if both parties are in agreement with it, and it is in writing and signed by both parties. If one party makes a material alteration to the contract, the other party has the option to accept or reject the changes. If they reject, the contract remains as it was before. If the other party agrees, the alteration is said to be "consented to" and is legally binding. In some cases, material alterations may be used to completely overhaul a contract, such as when two parties decide to enter into a new contract instead of continuing the original one. In those cases, the contract must be considered void and the original contract must be dissolved. When it comes to agreements between minors, material alterations can be particularly dangerous because minors lack the legal capacity to bind themselves to a contract. Any material alteration of a contract involving minors must be approved by a court before it is considered legally binding. In conclusion, material alteration of a contract occurs when one party attempts to change the legal terms of a contract without the knowledge or agreement of the other party. Such alterations are legally binding only if both parties agree to them, and they may be void if involving minors.

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