A loan agreement must clearly set out the repayment terms — including the amount, interest…

Why Both Parties Must Agree
Once a contract is signed, you cannot change it unilaterally. Any amendments — such as changes to price, deadlines, or scope — require the consent of both parties. These changes should be recorded in writing and signed, preferably as a formal addendum. Verbal changes can be risky and hard to prove. Without mutual agreement, any unapproved change is invalid and may be ignored or challenged in court.
