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Template:Isda 9(a) summ: Difference between revisions
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Smart-arse point: A [[warranty]] is a contractual assurance, made as part of a concluded contract, and cannot, logically, be relied on by the other party when entering into the contract. An assurance on which one relies when deciding to enter into a {{t|contract}} is a [[representation]]. | Smart-arse point: A [[warranty]] is a contractual assurance, made as part of a concluded contract, and cannot, logically, be relied on by the other party when entering into the contract. An assurance on which one relies when deciding to enter into a {{t|contract}} is a [[representation]]. | ||
==={{{{1}}}|Confirmation}}s=== | ==={{{{{1}}}|Confirmation}}s=== | ||
The [[entire agreement]] clause is legal boilerplate to nix any unwanted application of the [[parol evidence]] rule. Which might be a problem because the time-honoured understanding between all right-thinking derivatives trading folk is that the [[oral agreement]], between the traders is the binding legal agreement, and not the subsequent confirmation, hammered out between middle office and operations folk after the trade is done. Hasten to Section {{{{{1}}}|9(e)(ii)}} — the {{{{{1}}}|Confirmation}} is only ''evidence'' of the binding agreement. Could that be it? | The [[entire agreement]] clause is legal boilerplate to nix any unwanted application of the [[parol evidence]] rule. Which might be a problem because the time-honoured understanding between all right-thinking derivatives trading folk is that the [[oral agreement]], between the traders is the binding legal agreement, and not the subsequent confirmation, hammered out between middle office and operations folk after the trade is done. Hasten to Section {{{{{1}}}|9(e)(ii)}} — the {{{{{1}}}|Confirmation}} is only ''evidence'' of the binding agreement. Could that be it? | ||