An amendment relates to a proper or official change made to a law, contract, constitution or another legal instrument. It supported the word ‘amend’, which relates to varying for the betterment of the society. Amendments can add, remove, or update parts of the agreements. An amendment generally doesn’t substantially alter or reverse the terms of the document. If an agreement needs significant changes, a new contract instead of an amendment generally involved.
Purpose of an Amendment
· The alteration of a writ, pleading, or other documents for the aim of correcting some error or defect within the original or to raise some new matter, claim or allegation.
· An alteration or change of something proposed during a bill.
· The correction, by the allowance of the court, of an error committed within the progress of a cause.
The term ‘Bargain’ literally means ‘an agreement between two or more individuals that they will do or say give something in exchange for something’.
The term ad valorem is derived from the Latin, meaning “ACCORDING TO THE VALUE”.