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.
North Carolina Negotiating and Drafting the Counterparts Provision
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How to fill out Negotiating And Drafting The Counterparts Provision?
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During the rush of a transaction, documents may need to be signed in counterpart. Signing in counterpart means that duplicate contracts or deeds are printed so that there is a separate copy for signing by each party.
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.
Counterparts. Simple contracts and deeds are often executed in counterparts. This means that each party to the contract will sign separate but identical copies of the same document. The signed copies will together form a single binding agreement.
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.
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.