Can a purchase agreement be changed with an admen dement

UPDATED: Sep 30, 2022

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Can a purchase agreement be changed with an admen dement

i a working on signing my portion of a business over and
there is a purchase agreement with another business owner
that bought a part of the business with a payment plan to it.
Want to change the contract to me and need to know if an
amendment can be written to change it to me?

Asked on April 18, 2016 under Business Law, Minnesota


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Yes, any contract or agreement can be changed by an amendment or addendum, so long as ALL parties to the agreement consent to the change. So if the other party or parties to the agreement (the other business owner) agrees to the amendment (and shows said agreement by signing or excecuting it), the change is valid and enforceable. You cannot make the change unilaterally, however, or without their consent.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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