Modification of Existing Contracts

While parties to a contract generally assume that the contract will extend for the entire term originally contemplated with no need for modifications, the reality is that change is commonplace and it is often necessary to prepare one or more additional documents that memorialize the evolution of the relationship described in the original contract.  This month's edition of Business Counselor Update describes some of the drafting tools that counsel should have available when contracts need to be modified and also includes a sample form of modification agreement.