Drafting Of Agreements
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This document outlines the key considerations and elements for properly drafting agreements. It discusses gathering necessary details about the parties and subject matter. It also covers important legal issues like offer and acceptance. Well-drafted agreements are clear, concise, logically organized and accurately reflect the intentions of the parties. They also include basic parts like the title, dates, parties, recitals, valuable consideration, definitions, body, interpretations, boiler plate clauses and signatures.
Drafting Of Agreements
- 1. DRAFTING OF AGREEMENTS Ajithaa Edirimane LLB (Colombo) MLB (Hamburg) Attorney-at-Law & Notary Public
- 2. Details and Information necessary to draft an Agreement What does the drafter hope to achieve? Who are the parties to the agreement? What is the subject matter and nature of the agreement? From when will the agreement take effect? What does the other party reasonably hope to have included in the agreement? What are issues and concerns of the parties to the agreement?
- 3. Legal issues Offer and acceptance Valuable consideration Capacity to contract Certainty of subject matter and terms Due diligence tests Rule of Contra Proferendum
- 4. Features of a well drafted Agreement Clear and concise Well organized Logical numbering of paragraphs Readable and understandable Internally consistent with certainty of meaning Simple while expressing the intention of parties Accurately reflects the agreement the parties have reached.
- 5. Basic parts of an Agreement Title ( in capital letters) Date Parties Recital Valuable consideration Definitions Body of the Agreement Interpretations (i.e. Headings and Language) Boiler plate clauses Schedules Testimonials and attestations Signatures and seals