Amendment


Amendment

1. A change to one of the terms of a contract. Any type of contract can be amended, and any clause in a contract can be amended by the mutual agreement of both parties.

2. A change to an existing or proposed law.

1. A common type of amendment is to extend the term of a contract. An amendment might also change pricing, deadlines or ownership rights. The parts of the contract that are not amended remain in force. If the contract needs significant changes, it may be better to create a new contract than to amend the existing one.

2. If the Senate is trying to create a new bill, numerous amendments to the originally proposed bill may be created as Democrat and Republican senators try to create a bill that enough senators can agree on for the bill to pass.


Investment dictionary. . 2012.

Synonyms:

Look at other dictionaries:

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  • Amendment —   [ə mendmənt, englisch »Berichtigung«] das, s/ s, Zusatz, ergänzender oder abändernder Artikel zur Verfassung der USA von 1787 (bisher 26 Amendments) sowie zu den Verfassungen der Einzelstaaten. Die Amendments werden chronologisch an den… …   Universal-Lexikon

  • amendment — (n.) early 13c., betterment, improvement; c.1300, of persons, correction, reformation, from O.Fr. amendment, from amender (see AMEND (Cf. amend)). Sense expanded to include correction of error in a legal process (c.1600) and alteration of a writ… …   Etymology dictionary

  • amendment — [n1] correction, improvement alteration, amelioration, betterment, change, correction, enhancement, improvement, mending, modification, rectification, reform, reformation, remedy, repair, revision; concept 700 Ant. worsening amendment [n2]… …   New thesaurus

  • amendment — ► NOUN 1) a minor improvement. 2) (Amendment) an article added to the US Constitution …   English terms dictionary

  • Amendment — A*mend ment, n. [F. amendement, LL. amendamentum.] 1. An alteration or change for the better; correction of a fault or of faults; reformation of life by quitting vices. [1913 Webster] 2. In public bodies; Any alternation made or proposed to be… …   The Collaborative International Dictionary of English

  • amendment — [ə mend′mənt] n. [ME < OFr amendement < amender, AMEND] 1. a change for the better; improvement 2. a correction of errors, faults, etc. 3. a) a revision or addition proposed or made in a bill, law, constitution, etc. b) the process of… …   English World dictionary

  • amendment — noun ADJECTIVE ▪ important, major, significant ▪ A major amendment was introduced into the legislation. ▪ minor, slight, small ▪ …   Collocations dictionary

  • amendment — A revision to a document. A UCC financing statement can be amended by filing a designated amendment form, usually UCC 3. American Banker Glossary * * * amend a‧mend [əˈmend] verb [transitive] to make small changes to a law or a document, for… …   Financial and business terms


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