A Second Promise to Pay a Contractor a Higher Amount

question 12

True/False

A second promise to pay a contractor a higher amount on the original contract may be enforceable.

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Definitions:

Centrally Managed

The control and decision-making process of an organization or system consolidated at a central point or by a central authority.

Licensing Agreements

Legal contracts that grant one party permission to use another's intellectual property, such as patents, trademarks, or copyrights, in exchange for compensation.

Specified Territory

A designated geographical area or market for which a person or entity holds responsibility, often in sales or distribution.

Authorization

The official permission or power to do something, often through a formal process or document.