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Conclusive evidence clause: Difference between revisions
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Of course, as we well know, most [[indemnities]] are ''not'' well-crafted, but will be hopelessly vague, woolly, all-you-can-possibly-think-of affairs — just the kind of thing that ''isn’t'' “readily ascertainable”, at least not without the need for the a full adversarial process, with a day’s cross examination from Sir Jerrold Baxter-Morley, Q.C., to thrash them out. | Of course, as we well know, most [[indemnities]] are ''not'' well-crafted, but will be hopelessly vague, woolly, all-you-can-possibly-think-of affairs — just the kind of thing that ''isn’t'' “readily ascertainable”, at least not without the need for the a full adversarial process, with a day’s cross examination from Sir Jerrold Baxter-Morley, Q.C., to thrash them out. | ||
What to do? Light-bulb moment! Have someone issue a [[certificate of indebtedness]]! Better still, have the counterparty agree, in advance, that it will be conclusive of the amount owed! Brazen though this strategy seems, it must have worked for a time, because we now find conclusive evidence clauses a part of standard [[boilerplate]] in any kinds of financing document — even, entertainingly, those without [[indemnities]] — to the point where few people know what the provision is even for, and even fewer challenge it. Well, dear reader, now you do | What to do? Light-bulb moment! Have someone issue a [[certificate of indebtedness]]! Better still, have the counterparty agree, in advance, that it will be conclusive of the amount owed! Brazen though this strategy seems, it must have worked for a time, because we now find conclusive evidence clauses a part of standard [[boilerplate]] in any kinds of financing document — even, entertainingly, those without [[indemnities]] — to the point where few people know what the provision is even for, and even fewer challenge it. Well, dear reader, now you do, and you can! | ||
Thus, you will see that tell-tale [[caveat]]: “in the absence of [[manifest error]]”: where the sum claimed was obvious and not really in dispute; the bank did certify it but a fly got in the typewriter or some such thing and they sent out a certificate containing obviously the wrong number. Well, clearly that’s not conclusive, right? | Thus, you will see that tell-tale [[caveat]]: “in the absence of [[manifest error]]”: where the sum claimed was obvious and not really in dispute; the bank did certify it but a fly got in the typewriter or some such thing and they sent out a certificate containing obviously the wrong number. Well, clearly that’s not conclusive, right? | ||