Virgin Islands Negotiating and Drafting the Counterparts Provision

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Multi-State
Control #:
US-ND1904
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Word; 
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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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FAQ

Counterparts. This Note may be executed in counterparts, each of which shall constitute an original and all of which shall constitute one and the same instrument.

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.

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.

This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. Confirmation of execution by electronic transmission of a facsimile signature page shall be binding on a party so confirming.

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 counterparts clause ensures that the intention of the parties to sign an agreement using counterparts is clear. However, exchange of counterparts, whether there is a counterparts clause or not, will normally be enough to form a contract given that exchange generally constitutes acceptance.

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.

The noun counterpart comes from the French word countre part, meaning ?duplicate of a legal document.? In legal circles counterpart still means "a duplicate document," but today it is more likely to describe people. Counterparts aren't duplicates, of course, but they have similar skills and responsibilities.

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Virgin Islands Negotiating and Drafting the Counterparts Provision