This document is intended to serve as a glossary of terminology applicable to software development and computerized systems in FDA regulated industries. It will facilitate consistency in describing the requirements of the law and regulations applicable to such products and systems. It is also a resource for investigators who conduct inspections and investigations involving software and computerized systems. The organization of this document is primarily alphabetical.
Re: Can we amend the expired contract? My opinion is that any contract has a specified life in itself. A procuring Entity can add life (by Extension) to a living contract before it is declared dead and buried(Expiry). Once a contract is dead (by way of expiry) it can not be returned back to life.
As a general rule, a contract is binding as soon as you sign it, and you do not have the right to cancel the contract.ight to Cancel. As a general rule, a contract is binding as soon as you sign it, and you do not have the right to cancel the contract. However, in some instances, North Carolina law, and sometimes federal law, gives you the right to cancel certain transactions even after you have signed a contract or agreement.