Document background
The Contract of Purchase and Sale Addendum is a crucial legal instrument used in Nigerian commercial transactions when parties need to modify their existing purchase and sale agreement without creating an entirely new contract. This document type is commonly utilized when circumstances require adjustments to the original terms, such as changes in price, delivery dates, property descriptions, or payment terms. It must be drafted in compliance with Nigerian contract law, the Sale of Goods Act, and other relevant legislation. The addendum serves as a bridge between the original agreement and the new terms, ensuring continuity while implementing necessary changes. It's particularly important in complex transactions where maintaining the original agreement's framework while incorporating specific modifications is essential for legal and practical purposes.
