RoaldDahl
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LSDefine
Simple English definitions for legal terms
supplemental agreement
Read a random definition: letters patent
A quick definition of supplemental agreement:
A supplemental agreement is an extra agreement that goes along with another agreement. It helps to add more details or change something in the original agreement. It's like adding a bonus to a toy you already bought. Sometimes, people make agreements that are not fair or reasonable, and those are called unconscionable agreements. But if an agreement is fair and both parties agree to it, it's called a valid agreement.A more thorough explanation:
A supplemental agreement is an additional agreement made between two or more parties that adds to or modifies an existing agreement. It is also known as a side agreement.
For example, if two parties have a contract for the sale of a car, they may later agree to add a supplemental agreement that includes additional terms, such as a warranty or payment plan.
Another example is in international trade, where a side agreement may be negotiated to supplement a broader trade treaty. For instance, NAFTA contains no provisions about labor standards or environmental protection, but two side agreements about those areas were negotiated separately and designed to supplement NAFTA, making the treaty more attractive to the ratifying bodies.