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An addendum or a contract addendum is an addition to a contract or agreement. As the name suggests, it is something to be added. Its origin is Latin and is translated as something to be added or an appendix to a work; a thing to be added.

Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.

Redlining a contract is the process of editing a draft. The draft might have been provided by opposing counsel, or it might be an old contract you are using as a template. Redlining requires that you go back and forth with the other side to hammer out the details of your agreement.

Write the contract in six stepsStart with a contract template.Open with the basic information.Describe in detail what you have agreed to.Include a description of how the contract will be ended.Write into the contract which laws apply and how disputes will be resolved.Include space for signatures.

Examples of an Addendum For example, the seller of a house may agree after the original sales contract has been written to include certain pieces of furniture for an additional specified sum.

Addendum to the contract, also called contract amendment or an amending agreement, is any document added after the signing of the agreement to modify its terms.

The various parts of a contract are typically referred to as "elements." A contract may not be legally enforceable if it does not include certain key elements.