Magic words

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cave verba magicae
There are some categories of magic words that it is just not worth trying to improve, however leaden they appear:

• Credit mitigation provisions: security rights, guarantees, letters of credit, close-out netting terms. They tend, in any case, not to be wildly controversial (for exactly this reason: they are sacred lore. Legal eagles respect and fear them too much to fiddle with them).
• Deeds, particularly where they relate to real estate, about the legal aspects of which the JC knows and cares little.
• ERISA plans

See also

• Cave verba magicae
• Contractual risk