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Contract Drafting Class 9 Tues. Feb 14. University of Houston Law Center D. C. Toedt III. Common contract screw-ups. Common contract screw-ups. “8. The contract that is signed by both parties but with manuscript revisions initialled [sic] only by one party or by neither party .”
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Contract DraftingClass 9Tues. Feb 14 University of Houston Law Center D. C. Toedt III
Common contract screw-ups “8. The contract that is signed by both parties but with manuscript revisions initialled[sic] only by one party or by neither party.” [From “Top 10 howlers when preparing contracts for signature,” by the IP Draughts blog at http://goo.gl/Km6Dw.]
True love …. Hat tip: ProfessorBainbridge.com Man has big trust fund for his kids Sued for killing another in car accident Adopts girlfriend so she’ll share ($70MM) in trust fund BUT: Is their relationship now incestuous – and thus illegal?
Florida incest statute Quaere:1. What did the drafters (presumably) intend for “however slight” to modify? 2. Could this have been better phrased? 826.04 Incest. …. "Sexual intercourse" is the penetra-tionof the female sex organ by the male sex organ, however slight ….
Some pretentious expressions How could these be improved? Attains the age of Cease Commence Does not operate to do X
Channel-stuffing • Sales people “sell” product to distributors who really can’t resell the product • Why do this? • Usually give distributor a return right in a (secret) side letter • Bad business practice – screws up inventory planning, incurs extra costs • Can be securities fraud
Lexicon review DSO – what is it?
Stark Exercise 6-1:DCT sample answer • Much of this is “style” preference • I like a complete sentence (contra Stark) • A good title is “License Agreement” • Date: Item 3 of Stark facts (or April 21) • Date: “As of” is good, but optional • Bold-faced names are easier to spot when scanning through lots of contracts • States of incorp.: Item 11 of Stark facts • Defined terms for parties are a good idea for later use in the document • “Licensor” and “Licensee” – confusing? (But including them allows copy-and-paste from other documents) • Some students included background facts; those are recitals, not part of the preamble This License Agreement (“Agreement”) is entered into as of February 9, 2012, by RALPH PRODUCTS, LP, a Virginia limited partnership (“Ralph LP” or “Licensor”); and MERCHANDISERS EXTRAORDINAIRE, INC., an Oregon corporation (“Merchan-disers” or “Licensee”).
