Drafting Of Agreements

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This gives information on the basic points that need to be observed in drafting an agreement

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Drafting Of Agreements

  1. 1. DRAFTING OF AGREEMENTS Ajithaa Edirimane LLB (Colombo) MLB (Hamburg) Attorney-at-Law & Notary Public
  2. 2. Details and Information necessary to draft an Agreement <ul><li>What does the drafter hope to achieve? </li></ul><ul><li>Who are the parties to the agreement? </li></ul><ul><li>What is the subject matter and nature of the agreement? </li></ul><ul><li>From when will the agreement take effect? </li></ul><ul><li>What does the other party reasonably hope to have included in the agreement? </li></ul><ul><li>What are issues and concerns of the parties to the agreement? </li></ul>
  3. 3. Legal issues <ul><li>Offer and acceptance </li></ul><ul><li>Valuable consideration </li></ul><ul><li>Capacity to contract </li></ul><ul><li>Certainty of subject matter and terms </li></ul><ul><li>Due diligence tests </li></ul><ul><li>Rule of Contra Proferendum </li></ul>
  4. 4. Features of a well drafted Agreement <ul><li>Clear and concise </li></ul><ul><li>Well organized </li></ul><ul><li>Logical numbering of paragraphs </li></ul><ul><li>Readable and understandable </li></ul><ul><li>Internally consistent with certainty of meaning </li></ul><ul><li>Simple while expressing the intention of parties </li></ul><ul><li>Accurately reflects the agreement the parties have reached. </li></ul>
  5. 5. Basic parts of an Agreement <ul><li>Title ( in capital letters) </li></ul><ul><li>Date </li></ul><ul><li>Parties </li></ul><ul><li>Recital </li></ul><ul><li>Valuable consideration </li></ul><ul><li>Definitions </li></ul><ul><li>Body of the Agreement </li></ul><ul><li>Interpretations (i.e. Headings and Language) </li></ul><ul><li>Boiler plate clauses </li></ul><ul><li>Schedules </li></ul><ul><li>Testimonials and attestations </li></ul><ul><li>Signatures and seals </li></ul>

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