Contract Evolution
/ˈkɒn.trækt ˌɛvəˈluː.ʃən/
Definitions
- (n.) The process by which a contract is modified, adapted, or developed over time through amendments, negotiations, or practice.
The contract evolution reflected the parties' changing business needs throughout the project's duration.
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Commentary
Contract evolution is often informal and may occur through conduct as well as formal written amendments; legal practitioners should carefully document substantive changes to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.