This form provides boilerplate contract clauses that establish the allowable number and effectiveness of any counterparts to the contract agreement. Several different language options are included to suit individual needs and circumstances.
Michigan Negotiating and Drafting the Counterparts Provision
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Counterparts; Electronic Signatures. This Agreement may be executed in two or more counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same instrument.
A counterparts clause makes up part of the general provisions of any contract you may enter. It establishes that though parties may sign documents separately, if the document's content is the same, you can read them together to form a legally binding agreement.
A person or thing that has the same purpose as another one in a different place or organization: The prime minister is to meet his European counterparts to discuss the war against drugs. Synonym. opposite number.
What does this mean? Answer: Executing a contract in counterparts is a very common practice that simply means that each party signs their own separate duplicate copy of the agreement rather than signing together on the same page of the same document.
Sample wording: ?Neither party may assign this agreement or any rights or obligations herein without the prior written consent of the other party.? Cancellation clauses: These allow either party to terminate the contract under specific conditions, often requiring advance notice.
A typical counterpart clause will look something like this: ?this agreement may be executed in any number of counterparts, each of which when executed and delivered shall constitute a duplicate original, but all counterparts together shall constitute a single agreement.?
A counterparts clause states that the parties signing the agreement don't all need to sign the same copy. Any copy of the agreement may be treated as an original.
Counterpart is a copy or duplicate of a legal instrument. Where an instrument, especially a contract, is signed by the parties on different copies, one of the copies is the original while the others are counterparts.