LAW 505-002 – Contracts I

Restatement Second of Contracts § 89


Modification of Executory Contract

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A promise modifying a duty under a contract not fully performed on either side is binding

  1. if the modification is fair and equitable in view of circumstances not anticipated by the parties when the contract was made; or
  2. to the extent provided by statute; or
  3. to the extent that justice requires enforcement in view of material change of position in reliance on the promise.