What is the principle of non-derogation of contracts?

Non-derogation of contracts is a principle of contract law in Virginia that states that once a contract is agreed upon by two parties, the terms of the contract cannot be changed unless both parties agree to the change. This means that, once a contract is formed, the parties to the contract have an ongoing obligation to abide by the terms of the contract. The doctrine of non-derogation of contracts in Virginia offers two primary advantages to business transactions. First, it ensures each party has a certain amount of protection if a dispute arises over the terms of the contract. Once a contract is in effect, neither party can make changes without the consent of the other. This gives each party a sense of security that the other party won’t try to change the terms of the contract without their consent. Second, the non-derogation of contracts doctrine helps to provide stability to business transactions. Since the parties to a contract are locked into the terms of the contract until they negotiate a change, it allows them to plan their business transactions with a certain amount of assurance that the terms of the contract will not suddenly change. The principle of non-derogation of contracts is a foundational principle of contract law in Virginia. It helps to ensure that business transactions have an element of security and stability, even if a dispute arises between the two parties.

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What is the principle of non-derogation of contracts?

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