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Conclusive evidence clause: Difference between revisions
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''{{quote|In the absence of [[manifest error]], a certificate from the Lender as to any amount due will be conclusive evidence of the amount owing.}}'' | ''{{quote|In the absence of [[manifest error]], a certificate from the Lender as to any amount due will be conclusive evidence of the amount owing.}}'' | ||
[[Conclusive evidence]] clauses are meant to support [[indemnities]]. There’s a wealth of snarkily-presented information in [[indemnities]] [[Indemnity|in the usual place]] | [[Conclusive evidence]] clauses are meant to support [[indemnities]]. There’s a wealth of snarkily-presented information in [[indemnities]] [[Indemnity|in the usual place]]<ref>Go on — honestly — you’ll love it: {{t|Indemnity}}</ref> but the key point to remember is that, a ''well-crafted'' {{tag|indemnity}}<ref>Much talked about, seldom seen.</ref> is meant to be a pre-agreement to pay an ''ascertainable sum'' of money: both parties are meant to have a fairly clear handle on what is required to be paid out. | ||
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 put in the wrong number. | |||
In the traditional banking world where lenders obtain indemnities from their borrowers and are discounting bills and so on this is straight forward. A banker ought to know how much he is owed, and how much interest, and there ought not to be a tedious back and forth with a mendacious defendant trying prolong the legal battle about it. That only benefits one person, as we all know, O dear [[Mediocre lawyer|attorney]]. | In the traditional banking world where lenders obtain indemnities from their borrowers and are discounting bills and so on this is straight forward. A banker ought to know how much he is owed, and how much interest, and there ought not to be a tedious back and forth with a mendacious defendant trying prolong the legal battle about it. That only benefits one person, as we all know, O dear [[Mediocre lawyer|attorney]]. | ||