What is another term often used to identify a contract addendum?

An addendum in a contract typically refers to a document that adds additional information or terms to the original agreement without altering the original content. In this context, the term "exhibit" is often used interchangeably with "addendum." Both serve to provide supplementary material that supports or clarifies aspects of the original contract, allowing for a clearer understanding or additional detail.

Exhibits are commonly attached to contracts to present information such as diagrams, financial statements, or additional terms that enhance or expand upon the existing agreement. This terminology emphasizes the notion that the addendum is not a modification or change to the agreement itself but rather an addition that complements the existing provisions.

Understanding this terminology is important for real estate professionals, as it clarifies how various documents work together in contract law and the typical language used in legal documents within Alabama real estate transactions.