Final answer:
When wording is changed in a contract during negotiations, each party must initial the change to validate it. The original contract remains unaffected, and there is no requirement for notarization just due to the alteration.
Step-by-step explanation:
If during negotiations, one party crosses out or changes any wording in a contract, it is commonly accepted that each party must initial the change in the margin for it to be valid.
This act signifies that all parties acknowledge and consent to the modification. The contract does not automatically become void, nor does the document necessarily have to be retyped, although retyping can help avoid misunderstandings.
As for the statute of frauds, it does not require the document to be notarized just because of such changes; notarization may be needed for other reasons, but is unrelated to modifications made during negotiations.