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Cave verba magicae: Difference between revisions
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The other is a recognition that, except in a few limited circumstances, most of the words in a legal contract aren’t [[Magic incantation|magic incantations]], and the best thing you can do is make them as clear and idiomatic as possible. | The other is a recognition that, except in a few limited circumstances, most of the words in a legal contract aren’t [[Magic incantation|magic incantations]], and the best thing you can do is make them as clear and idiomatic as possible. | ||
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). | |||
{{sa}} | {{sa}} | ||