What if the signed agreement goes back on our word?

Legal analysis: If the parties sign the agreement and go back on their word, they can negotiate to change the agreement. If the parties go back on their word after signing the agreement, they shall be liable for breach of contract. If the contract stipulates liquidated damages or deposit terms, one of them shall be applied; If there is no agreement, the breaching party may be required to bear the liabilities for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 543 The parties may modify the contract through consultation.

Article 577 Where a party fails to perform its contractual obligations or fails to perform its contractual obligations in conformity with the contract, it shall be liable for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Article 583 Where one party fails to perform its contractual obligations or fails to comply with the contract, and after performing its obligations or taking remedial measures, the other party still suffers other losses, it shall compensate for the losses.

Article 588 Where the parties have agreed on both liquidated damages and deposit, if one party breaches the contract, the other party may choose to apply the liquidated damages or deposit clause. If the deposit is not enough to make up for the losses caused by one party's breach of contract, the other party may demand compensation for the losses exceeding the deposit amount.