Those who don’t do M&A may leave the room. In MSCD and in my ebook The Structure of M&A Contracts, I explain that double materiality is a figment of practitioner imagination, one that has left no trace in the caselaw. But at one of my “Structure of M&A Contracts” seminars the other day, I realized that I have to do … Read More
In this post on his Law21 blog, Jordan Furlong offered his thoughts on, among other topics, how bar associations could play a greater role in developing form documents. I recommend you read it. I posted a comment; to spare some of you the labor of clicking and scrolling, here’s the part of my comment that’s most relevant to Jordan’s suggestion: … Read More
I sometimes get from unexpected quarters ideas for new bits of contract language for to me ponder. Last week, my web designer, the inestimable Selene Bowlby of iDesign Studios, asked me about the phrase “this agreement contemplates,” which she had seen in a contract for web-design services. An astronomer contemplates the universe. An existentialist contemplates being and nothingness. I contemplate … Read More
[Updated July 19, 2013] In this recent post I grandly announced that the ebook version of A Manual of Style for Contract Drafting was available on iTunes, but it later transpired that pretty much everything I had to say on the subject was wrong. I don’t hold that against myself or anyone else—when it comes to law books, this ebook … Read More
Here are three instances, from EDGAR, of use of the phrase to the best of its [or his, her, or their] ability: The Company hereby engages the Consultant, and the Consultant hereby agrees to serve the Company to the best of his ability to provide financial advisory services to the Company during the Term (as defined below) as and when … Read More
Today I was reminded of the phrase every effort. I mention it in this 2004 article, but not in MSCD. Here’s an example from EDGAR: The Investment Manager represents that it shall make every effort to ensure that the Fund continuously qualifies as a Regulated Investment Company under Subchapter M of the Code or any successor provision. This phrase serves as a reminder of … Read More
While trawling the far reaches of the Netflix galaxy, I encountered that fixture of the Western canon, Star Trek II: The Wrath of Khan. I leave it to others to explore the glories of this oeuvre. What caught my attention is what happens at 54:00. Spock’s protege Saavik (below) reminds Admiral Kirk of General Order 15: No flag officer shall … Read More
I recently saw the following on Twitter: Do you think there are legalisms (terms of art) that cannot be replaced with plain language? We’re making a list: http://t.co/Hd0ZLidJK7 — Cheryl Stephens (@CherylStephens) June 20, 2013 It prompted me to think, Hey, that’s a great idea! Why don’t I ask my readers to help compile a list of contract terms of … Read More
[Updated July 16, 2013: Go to this post for an updated and correct account of ebook version of MSCD.] Huzzah! The third edition of A Manual of Style for Contract Drafting is now available on iTunes. You can buy it from the iBookstore on your computer and on your iPhone, iPad, or iPod touch. But to buy it on your computer, you’ll … Read More
In two recent posts I considered the merits of overhauling the language of your template commercial contracts (here) and the merits of automating them (here). But it’s important to consider that those tasks apply to different parts of the process. Automation allows you to prepare first drafts faster and with greater control that is possible using the traditional copy-and-paste approach. By … Read More
