Quiz 4 definitions Flashcards
Identification clause
Can be used to identify the parties, set out address, dates, and type of contract
Recital clauses
Can be used to set out the offer and the acceptance of the parties; provide background and reasons for the contract. It is not part of the contract
Body of the contract
Sets out the terms, conditions, obligations, and responsibilities of the parties
Integration
When the parties agree that the document represents the final expression of their agreement, it is referred to as an integrated agreement
Merger clause
A clause in the contract that states the document is the complete and final agreement between the parties
Self proving document
A document wherein the signature or signatures of the parties are verified and sworn to before a notary public. It can be used as evidence in court without calling in the persons who signed the document
Scriveners error
A typographical error or a drafting defect
Parol evidence rule
Applies to oral or written statements made prior to the final integrated contract that would be barred from being introduced as evidence because such statements or writing contradicts, changes, or alters the integrated contract in some way
Subsequent agreement
An amendment to the original contract. A separate, later agreement that changes or modifies the original agreement
Boiler plate
Clauses in contracts that contain standard terms that can be used in all contracts as they are not adapted to the individual parties or circumstances. Language that can be used in any contract
Active voice
The subject of the sentence acts.
Passive voice
The subject of the sentence is acted upon
Sever-ability clause
Clause in the contract that provides in the event that any part of the contract is found to be invalid or Unenforceable, the remainder of the contract shall remain in effect
Legalese
Very formal, often archaic, language used in a contract. Language that is used to impress the client
Incorporation by reference
A reference to an outside document that is not part of the contract, but which the parties want to make a part of the contract by referencing to it