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Part of the paranoid delight of transactional drafting is catering for unforeseen [[contingencies]]. To do this, the [[draftsperson]] has many tools at her disposal: [[force majeure]] clauses, [[indemnities]], [[termination rights]], and a propensity to draft ornate, byzantine [[valuation dispute]] clauses. | Part of the paranoid delight of transactional drafting is catering for unforeseen [[contingencies]]. To do this, the [[draftsperson]] has many tools at her disposal: [[force majeure]] clauses, [[indemnities]], [[termination rights]], and a propensity to draft ornate, byzantine [[valuation dispute]] clauses. | ||
But there remains in all of these a guiding principle: one should | But there remains in all of these a guiding principle: one should only address contingencies ''now'' that cannot predictably be resolved ''later'' — that is to say, in the unlikely event they arise. For those contingencies, one has a simpler approach: [[amendment]]. For the certainty gained by catering for these contingencies comes at the cost of length, complexity, aggravation and, well, ''cost'' of finalising your contract. | ||
{{seealso}} | {{seealso}} | ||
Revision as of 08:07, 20 April 2017
Oh, the fertile, febrile mind of a transactional lawyer.
Part of the paranoid delight of transactional drafting is catering for unforeseen contingencies. To do this, the draftsperson has many tools at her disposal: force majeure clauses, indemnities, termination rights, and a propensity to draft ornate, byzantine valuation dispute clauses.
But there remains in all of these a guiding principle: one should only address contingencies now that cannot predictably be resolved later — that is to say, in the unlikely event they arise. For those contingencies, one has a simpler approach: amendment. For the certainty gained by catering for these contingencies comes at the cost of length, complexity, aggravation and, well, cost of finalising your contract.
See also
Plain English Anatomy™
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