Joint Drafting Clauses: Contract for Real Property are clauses that are added to a contract for the sale of real estate that define the rights and responsibilities of the parties involved. These clauses typically address topics such as the property's title, rights of ownership, and the transfer of funds. They can also address issues such as warranties, insurance coverage, and taxes. The main types of Joint Drafting Clauses: Contract for Real Property are: 1. Title: This clause outlines the title of the property and the rights and responsibilities of the parties related to ownership and transfer of the property. 2. Sale Price and Payment: This clause outlines the amount of money that will be exchanged for the property, when the money will be transferred, and any payment terms. 3. Closing Costs: This clause outlines who are responsible for paying closing costs such as transfer fees, attorney fees, and title fees. 4. Insurance: This clause outlines the insurance requirements for the property and the responsibility of the parties related to obtaining and maintaining insurance coverage. 5. Taxes: This clause outlines the responsibility of the parties related to paying taxes on the property. 6. Warranties: This clause outlines any warranties that are included in the purchase of the property and the rights and responsibilities of the parties related to warranties. 7. Remedies: This clause outlines the remedies available to the parties in the event of a breach of contract. 8. Notices: This clause outlines how notices will be sent and received between the parties.
Joint Drafting Clauses: Contract for Real Property
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FAQ
2019), "A contract or a provision in a contract is ambiguous if it is reasonably susceptible to more than one interpretation or construction." In other words, if both parties' interpretation is reasonable given the written language of the agreement, the contract may be ambiguous.
Drafting of a contract is the step-by-step inclusion of specific clauses, terms and conditions that are expressed as per the needs and wants of the party/parties to the contract.
Intrinsic ambiguity is when there is a conflict between two or more provisions in the contract. For example, if a contract says ?the buyer will pay for the damages? and ?the seller will pay for the repairs,? these provisions conflict with each other and create an ambiguity.
Contra proferentem is a rule of contract interpretation that states an ambiguous contract term should be construed against the drafter of the contract. The term contra proferentem is derived from a Latin phrase meaning ?against the offeror.?
The Company and Executive acknowledge and agree that this Agreement was jointly drafted by the Company on the one side and by Executive on the other side. Neither party, nor any party's counsel, shall be deemed the drafter of this Agreement in any proceeding that may hereafter arise between them.
The contra proferentem rule, also known as ?interpretation against the draftsman? broadly states that where there is doubt about the meaning of the contract, the words will be construed against the person who put them forward.
The contra proferentem rule is a legal doctrine in contract law which states that any clause considered to be ambiguous should be interpreted against the interests of the party that created, introduced, or requested that a clause be included.
None of the Parties shall be considered to be the drafter of this Agreement or any provision hereof for the purpose of any statute, case law, or rule of interpretation or construction that would or might cause any provision to be construed against the drafter hereof.
