Concepts Definitions

• Contract Interpretation: The process of determining the meaning and intent of the terms within a contract.
• Written vs. Printed Terms: A principle of contract law stating that specific terms that are written or typed into a contract supersede general preprinted terms if there is a conflict.
• Statute of Frauds: A legal principle requiring certain types of contracts, including those for the sale or lease of real property for more than one year, to be in writing to be enforceable. This ensures clarity and reduces disputes.
• Addendum/Amendment: A modification to a contract. An addendum is a modification before the contract is mutually accepted, while an amendment reflects changes made after approval and during escrow. These often contain written or typed terms that may supersede preprinted ones.

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