Ratification of Agreement
This is to ratify the Agreement attached as Exhibit 1
(“Exhibit1”). The parties signed Exhibit
1 _____ days ago and hereby ratify it in its entirety, having had sufficient
time after the fact to wish to make this declaration in support of Exhibit 1 in
it totality.
1. Notices.
Any notice required by this Agreement or given in
connection with it, shall be in writing and shall be given to the appropriate
party by personal delivery or a recognized over night delivery service such as
FedEx.
If
to the First Party: _____________________________________________________.
If
to the Second Party: ___________________________________________________.
2. No Waiver.
The
waiver or failure of either party to exercise in any respect any right provided
in this agreement shall not be deemed a waiver of any other right or remedy to
which the party may be entitled.
3. Entirety
of Agreement.
The terms and conditions set forth herein constitute the
entire agreement between the parties and supersede any communications or
previous agreements with respect to the subject matter of this Agreement. There are no written or oral understandings
directly or indirectly related to this Agreement that are not set forth
herein. No change can be made to this
Agreement other than in writing and signed by both parties.
4. Governing Law.
This
Agreement shall be construed and enforced according to the laws of the State of
____________________ and any dispute under this Agreement must be brought in
this venue and no other.
5. Headings in this Agreement
The
headings in this Agreement are for convenience only, confirm no rights or
obligations in either party, and do not alter any terms of this Agreement.
6. Severability.
If
any term of this Agreement is held by a court of competent jurisdiction to be
invalid or unenforceable, then this Agreement, including all of the remaining
terms, will remain in full force and effect as if such invalid or unenforceable
term had never been included.
In
Witness whereof, the parties have executed this Agreement as of the date
first written above.
_________________________ _______________________
First
Party Second
Party
___________________
Date
______________________________
Witness
Ratification of Agreement
Review List
This
review list is provided to inform you about this document in question and
assist you in its preparation. This
Ratification of Agreement is very useful to have signed after an agreement has
been concluded with a difficult party.
It is especially important to be done if no lawyer was involved in the
initial deal or at the signing. This is
effectively eliminates the rescission period available in certain consumer
contracts (i.e., people have a certain number of days to rescind the
agreement). If you get this
Ratification of Agreement signed 10 or days or more after the initial
agreement, then you have accomplished that purpose and seriously put a brake on
any lawyer challenging it at a later date.
On a personal basis, I have never had a lawyer bring suit against me or
any company of mine when I had this ratification agreement in hand. On the other hand, it did create a number of
angry lawyers on the other side looking for a fee! What more eloquent statement could be made
about the usefulness of this agreement!
On a final note, the
signing of this agreement by both parties, 10 days or more after the initial
agreement, had an important ceremonial aspect of ratification and
conclusion. It helped. Many lawyers will advise this is not a
“necessary” document, and they would be right. But, they can never deny that it was useful,
unless they are on the other side seeking a fee!
PS. This Agreement is so helpful, in my mind,
that it is one of the few we have included in two places, legal utilities and
business agreements.
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