Any change made to an instrument that affects the rights of the parties is called a _______________.

Question

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A material alteration is one that changes the terms of the instrument in a significant way, such as adding or removing obligations or changing the amount owed. If a material alteration is made without the consent of all parties, it can invalidate the entire instrument. Declarative alteration is not a common term and has no legal meaning. Respective alteration and special alteration are not commonly used terms in this context.

Any Change Made to an Instrument That Affects the Rights