DRAFTING OF AGREEMENTS

Ajithaa Edirimane LLB (Colombo) MLB (Hamburg)Attorney-at-Law & Notary Public

Details and Information necessary to draft an Agreement

What does the drafter hope to achieve? Who are the parties to the agreement? What is the subject matter and nature of the agreement? From when will the agreement take effect? What does the other party reasonably hope to have included in the agreement? What are issues and concerns of the parties to the agreement?

Legal issues

Offer and acceptance Valuable consideration Capacity to contract Certainty of subject

matter and terms Due diligence tests Rule of Contra

Proferendum

Features of a well drafted Agreement

Clear and concise Well organized Logical numbering of paragraphs Readable and understandable Internally consistent with certainty of meaning Simple while expressing the intention of parties Accurately reflects the agreement the parties have reached.

Basic parts of an Agreement

Title ( in capital letters) Date Parties Recital Valuable consideration Definitions Body of the Agreement Interpretations (i.e. Headings and

Language) Boiler plate clauses Schedules Testimonials and attestations Signatures and seals