An alteration of a written instrument is a change in language of the instrument that is made by one of the parties to the instrument who is entitled to make the change. Any material alteration of a written instrument, after its execution, made by the owner or holder of the instrument, without the consent of the party to be charged, renders the instrument void as to the nonconsenting party. The party to be charged refers to that party or parties against whom enforcement of a contract or instrument is sought.
If a party consents to the alteration, the instrument will not be rendered invalid as to that party.
The Michigan Ratification of the Alteration of an Instrument Which Was Made after Execution by the Party to be Charged refers to a legal process in which a party acknowledges, confirms, or approves alterations made to a document or instrument after it has been executed. This is a significant legal concept designed to protect parties involved and maintain the integrity of contractual agreements. In Michigan, there are different types of ratification of the alteration of an instrument which was made after execution by the party to be charged. These types may include: 1. Express Ratification: This form of ratification occurs when a party explicitly and clearly approves the alterations made to the document or instrument. It may involve signing a separate document that acknowledges the changes or providing written consent to the alterations. 2. Implied Ratification: Implied ratification takes place when a party, through their actions or conduct, implicitly approves the modifications made to the instrument. For example, if a party continues to accept payments or perform under the altered agreement without objection, it may be deemed as an implicit ratification. 3. Oral Ratification: In some cases, ratification of the alteration of an instrument may occur through oral communication between the party to be charged and the party making the alterations. However, it is crucial to note that oral agreements can have limitations and complexities in terms of evidence and enforceability. 4. Ratification by Conduct: Ratification by conduct happens when the party to be charged, through their behavior, demonstrates acceptance of the changes made to the instrument. This can be observed by continuing to act in accordance with the altered terms or not objecting within a reasonable timeframe. 5. Ratification by Estoppel: Ratification by estoppel occurs when a party, through their own actions or representations, leads another party to reasonably believe that the alterations were authorized and approved. The principle of estoppel prohibits the party from later denying or disapproving of the changes made. It is important to consult with legal professionals and understand the specific laws and regulations in Michigan regarding the ratification of the alteration of an instrument made after execution by the party to be charged. These legal requirements ensure the validity and enforceability of agreements while safeguarding the rights of all parties involved.
