Hierarchy: Difference between revisions

Hierarchy (view source)

677 bytes added , 18 October 2023

Removed redirect to Power structure

83,242

edits

@@ Line 1: / Line 1: @@
-#redirect[[power structure]]
+{{a|Construction|}}The hierarchy clause is the part of the [[interpretation and construction]] [[boilerplate]] that prescribed how the different parts of a modular legal contract interact with each other.
+For example, the {{isdama}} comprises the master agreement proper, a {{isdaprov|Schedule}}, a {{isdaprov|Confirmation}}, sometimes a Master Confirmation, and a {{isdaprov|Credit Support Annex}}. In case of conflict, which should govern?
+Usually, it is pretty obvious and ought to go without saying — the later in time prevails; the more specific prevails of the general — but what finance lawyer ever was happy to let anything go without saying?
+{{sa}}
+*[[Generalia specialibus non derogant]]