This Web site is in semi-stealth mode (management isn't publicizing it much). See the Legal Stuff.

Definitions

Posted August 16th, 2007 by DCT

Pactix | Pretty good contract forms to give your lawyer a great head start (under construction)

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Pactix

Pretty good contract forms to give your lawyer a great head start (under construction)

This Web site is in semi-stealth mode (management isn't publicizing it much). See the Legal Stuff.

New blog feed - please change your feed reader settings

Posted July 22nd, 2008 by DCT

Contracts

The Pactix project is settling into a new identify, Drafter's Choice. I want to consolidate the various blog RSS feeds into one, so PLEASE CHANGE YOUR FEED READER SETTINGS to point to http://www.drafterschoice.com/feed/rss/. The easiest way to do this is probably just to click on the link in the previous sentence and sign up for the new feed.

DCT's blog
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Moved ....

The (renamed) Pactix project is now hosted at the Drafter's Choice Web site.

Pactix | Pretty good contract forms to give your lawyer a great head start (under construction)

Already Registered? Click here to log in.

Pactix

Pretty good contract forms to give your lawyer a great head start (under construction)

This Web site is in semi-stealth mode (management isn't publicizing it much). See the Legal Stuff.

New blog feed - please change your feed reader settings

Posted July 22nd, 2008 by DCT

Contracts

DCT's blog
Login or register to post comments
Read more

Moved ....

The (renamed) Pactix project is now hosted at the Drafter's Choice Web site.

1. General definitions: The terms below have the stated meanings (regardless of capitalization unless otherwise clear from the context). Other terms may be defined in the sections in which they occur. In some cases, defined terms are shown in this Agreement in italics to make it easier to recognize them as having specific agreed meanings. All definitions will survive any termination or cancellation of this Agreement.

1.3 Agreement or this Agreement means a written agreement signed by the parties (for example, a master agreement or a transaction order) that incorporates this Terms and Conditions Appendix by reference.

COMMENT: This language presupposes that the General Definitions section will be contained in a Terms and Conditions Appendix that is attached to a short-form transaction order, or to a master agreement that is intended to govern multiple transactions.

1.6 [OPT] Biller means a party to which a payer putatively owes money pursuant to this Agreement.

COMMENT: This is an example of language that can be used for any party without having to edit and proofread it.

1.10 [OPT] Party: Unless otherwise clear from the context, the term "party" means a party to this Agreement.

COMMENT: This is one of those Excruciatingly Precise definitions; one might legitimately question whether it adds enough value to justify the paper and printer toner needed to include it.

1.11 [OPT] Payer means a party that putatively is to pay money to a biller pursuant to this Agreement.

COMMENT: This is an example of language that can be used for any party without having to edit and proofread it.

1.12 [OPT] Person: Unless otherwise clear from the context, the term "person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity.

COMMENT: This definition of "person" largely tracks section 1-201(27) of the Uniform Commercial Code. The definition might not be needed in jurisdictions where the UCC has been enacted, but (to quote the late great Fats Waller) "one never knows, do one?" whether the UCC will or won't apply to a given transaction.

1.13 [OPT] Personnel: Unless clearly indicated otherwise by the context, a party's "personnel" consist of the following:

the party's employees.
the party's officers and directors, if it is a corporation.
persons of legal status, with respect to the party, comparable to that of officers and directors, if the party is another type of entity, for example a partnership or LLC.
the following specific individuals, if any: [N/A].

COMMENT: More than a few contract clauses refer to a party's "officers, directors, employees," etc. This definition provides a shortcut for writing this all out. HEADS-UP: There may be some situations in which "personnel" should be defined more restrictively than this.