Interchangeability
/ˌɪntərˌtʃeɪn(d)ʒəˈbɪlɪti/
Definitions
- (n.) The quality or state of being able to be exchanged or replaced with another equivalent item, right, or element in a legal context.
The interchangeability of contract clauses allows parties to substitute standard provisions without renegotiating the entire agreement.
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Commentary
Interchangeability often appears in contract law where terms or conditions can be substituted without altering the substantive rights or obligations of the parties.
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.