Acknowledgement

The Jolly Contrarian’s Glossary The snippy guide to financial services lingo.™ Go Premium Index — Click the ᐅ to expand: Glossary Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

An acknowledgement is a representation from the point of view of someone who doesn't believe his counterpart is listening. But here is the funny thing. A representation, as as every student of the law knows, is a pre-contractual statement in reliance upon which a merchant enters the contract. It is not a term of the contract — that would be a warranty. a representation relies on the representor having heard it and relied on it. A warranty is coded into the contract. By coding the representee's acknowledgement into the contract — its acceptance of it — you convert it into a term.