November 2016

23 Nov 16

A surprising number of agreements negotiated by the most sophisticated counsel in the transactional bar contain ambiguous terms simply because the use of such terms is considered market. ....
This is not necessarily because deal lawyers do not understand that they are doing this: many times deal dynamics simply do not permit the correction of these ambiguities. But there are other less appealing theories explaining the "herd" mentality of many within the transactional bar, as well as the resulting tendency of many transactional lawyers to become document processors rather than contract draftpersons.