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Entire Agreement - ISDA Provision: Difference between revisions
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{{isdaanat|9(a)}} | {{isdaanat|9(a)}} | ||
What you see is what you get, folks: if it ain’t written down in the {{isdama}}, it don’t count, so no sneaky oral representations. But, ''[[anus matronae parvae malas leges faciunt]]'', as we {{tag|Latin}} freaks say: good luck in enforcing that if your counterparty is a [[little old lady]]. | What you see is what you get, folks: if it ain’t written down in the {{isdama}}, it don’t count, so no sneaky oral representations. But, ''[[anus matronae parvae malas leges faciunt]]'', as we {{tag|Latin}} freaks say: good luck in enforcing that if your counterparty is a [[little old lady]]. Also, good luck reconciling that with the {{isdaprov|Counterparts and Confirmations}} clause, which says, rightly, that the binding action on a transaction is the first moment the parties agree it — that is, in as likely as not, a phone call or Bloomberg chat, or in volume products, an electronic handshake between booking systems. Since a Transaction is a modification to the {{isdama}} the words above ring a bit hollow. | ||
Note also that liability for a ''fraudulent'' warranty or misrepresentation won’t be excluded. So if your oral representation or warranty is a bare-faced lie, the innocent party can maybe still rely on it in entering the agreement, even if it isn’t written down. | Note also that liability for a ''fraudulent'' warranty or misrepresentation won’t be excluded. So if your oral representation or warranty is a bare-faced lie, the innocent party can maybe still rely on it in entering the agreement, even if it isn’t written down. | ||