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==={{{{{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? | ||
===[[Entire agreement]] bunk=== | |||
Section 9(a) isn’t ''quite'' as ludicrous as the {{gmslaprov|Entire Agreement}} clause in the {{gmsla}},<ref>Students of the absurd may enjoy our essay on that topic, [[27.1 - GMSLA Provision|here]].</ref> in that {{icds}} craftily included all {{isdaprov|Confirmation}}s in the definition of “{{isdaprov|Agreement}}” in Section {{isdaprov|1(c)}}, but it is still ''mostly'' bunk, seeing as (as per the above) the {{isdaprov|Confirmation}} isn’t the canonical binding {{isdaprov|Transaction}} anyway, and besides an “{{isdaprov|Entire Agreement}}” that you freely concede the parties could be orally augmenting or Confirming several times a day for the hereafter really isn’t a fabulously stout hook to hang your hat on should you wish to make a point out of it in forthcoming litigation. |