Oklahoma Counterpart Execution
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FAQ
An approach to executing a document that is intended to have legal effect between two or more parties, that involves each party signing a separate (but identical) copy of the document and then exchanging their signed document for the one that has been signed by the other party.
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.
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.?
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.
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.
