By Subsequent Agreement: What it Means and How to Use it
The phrase “by subsequent agreement” is commonly used in legal contracts and agreements. It means that two parties have agreed to make changes to a previously agreed upon contract or agreement. These changes can be made in writing or verbally, but they must be agreed upon by both parties.
Using “by subsequent agreement” in a legal contract or agreement is important because it allows for flexibility and the ability to modify the terms of the agreement as needed. For example, if a contract states that payment is due within 30 days, but the two parties agree to extend the payment deadline to 60 days, they can do so by subsequent agreement.
However, it is important to make sure that any subsequent agreement is clearly documented and agreed upon by both parties. Verbal agreements can sometimes be difficult to enforce, so it is best to put any changes in writing and have them signed by both parties.
When using “by subsequent agreement” in a legal document, it is important to make sure that the original agreement is clear and concise. Any changes made by subsequent agreement should be specific and clearly outlined. This will help avoid any confusion or disagreements down the road.
In addition, it is important to make sure that any changes made by subsequent agreement do not violate any laws or regulations. This can be especially important in industries that are heavily regulated, such as the financial or healthcare industries.
In summary, “by subsequent agreement” is a legal term that refers to changes made to a previously agreed upon contract or agreement. It allows for flexibility and the ability to modify the terms of the agreement as needed. However, any changes made by subsequent agreement should be clearly documented and agreed upon by both parties to avoid any confusion or disagreements. Always make sure that any changes made do not violate any laws or regulations.