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'I hereby declare under penalty of perjury' signifies that the individual is stating their information is true and acknowledges the legal ramifications of providing false information. This phrase adds weight to the statements made, making them legally binding. It is an essential element in legal documents, ensuring all parties are held accountable for their claims. The Riverside California Declaration under penalty of perjury on behalf of a corporation or partnership - Form 2 - Pre and Post 2005 includes this key phrase to uphold legal integrity.