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.
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.
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A counterpart clause would typically read something like ?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 Standard Clause found in real estate agreements such as a lease or purchase and sale agreement providing the parties with the option to execute separate copies of an agreement in counterparts.
This Agreement may be executed in one or more any number of counterparts, each of which when so executed and delivered shall be deemed taken to be an original, original; but all of which such counterparts shall together shall constitute one and the same 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.
"Counterpart-The counterparts of an indenture are the two pieces of one parchment on which the deed is engrossed in duplicate. The piece executed by one party being delivered to the other so that each may possess an example of the deed.
Signing in counterpart means that duplicate contracts or deeds are printed so that there is a separate copy for signing by each party. The opposite situation is where one copy of the contract or deed is printed and signed by all parties to it.
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.
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.