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material change (The alteration of an instrument [that] materially changes it. The document no longer reflects the terms that the parties originally intended to serve as the basis of their legal obligation to each other. To be material, the change must affect an important part of the instrument and the rights of the parties to it. Any material alteration relieves the nonconsenting party of any obligation to perform according to the terms of the instrument. If the altered instrument is a contract, then the original contract is void. The nonconsenting party cannot be legally obligated by the new contract since he or she never agreed to it. A document that has been materially altered does not regain its original validity if it is restored to its original form by erasing or deleting unauthorized words. TFD LD Alexander Demidov); significant change; substantial change; considerable change; major change (maystay); dramatic transition (Ivan Pisarev) |
