QUESTION
Revising a contract that has already been signed
Asked on Jan 29th, 2013 on Business Law - New York
More details to this question:
I signed a bill of sale contract but later found out the contract was missing some language. The contract was rewritten and will be signed. I wanted to know if the new contract is signed does that nullify the previously signed contract?
1 ANSWER
Michael Stolzar
Usually, when a contract is revised and a new contract is signed, the new contract specifically cancels or terminates the earlier contract. states that it supersedes and replaces the earlier contract and that it is the only contract between the parties relating to the subject matter thereof still in effect. This is not intended to be legal advice and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Jan 30th, 2013 at 4:24 PM