Abbreviated Table of Contents
Chapter One
Introduction • Description of Subject
Matter • Authority References in this Book • Perpetuation
of Legal Form • Adversarial Aspects of Transactional
Document Drafting • How Lawyers Read Documents • Structure,
Purpose and Use of This Book • Negotiation Component
Chapter Two
Preliminary Considerations • Who Is Your
Client? • Understanding the Deal and Your Client's Goals
and Perspective • Letters of Intent, Memoranda of
Understanding and Term Sheets • Related Documents •
Preparation of First Draft: Control of Drafting Process •
First Draft Advantages • Reasons Not to Prepare First Draft
• Responses to Initial Draft Received from Other Side •
Sources of Forms • Transaction Phases • Confidentiality
Agreements • Check Lists • Drafting Economics: Precision Is
Not Cheap • Incorporation by Reference and by Presumption •
Format and Organization of Document • Date of Document •
Identification of Parties • Recitals • Headings • Legalese
• Definitions • Paragraph and Section Direct and
Cross-References • Standard Rules of Construction • Formal
Requirement • Internal Consistency • Say What You Mean and
Mean What You Say • Retention of Drafts in Progress •
Significance of Negotiation History • Document Appearance •
Counterparts • Schedules and Exhibits • Describing Time
Periods • Good Drafting Practices • Review and Editing •
Use of Litigated Provisions • Use of Latin and Foreign
Words and Expressions • Use of Word-Processing Programs •
Amendments • Dealing with Remote Risks
Chapter Three
Ambiguities • What Is an Ambiguity? •
Types of Ambiguities • Joint or Several Use of Conjunction
“And” • Resolution of Ambiguities • Words and Phrases to
Avoid • Additional Limitations • Misplaced Phrases •
Adverbs, Adjectives and Transitive Verbs • Prepositions •
Conjunctive-Disjunctive Confusion: “And/Or” • Singular v.
Plural: Ambiguous Plurals • Active v. Passive Voice •
Intentional Vagueness • Punctuation • Contra Proferentem:
Ambiguities Interpreted Against Drafter • Specific Words
and Terms
Chapter Four
Litigation Issues and Traps • Formal
Requirements for an Enforceable Contract • Contract
Construction and Interpretation • Explicit Provision for
Best Efforts or Other Levels of Performance • Good Faith
and Fair Dealing • Integration (Merger) Provisions:
Post-Execution Oral Modifications • Best Evidence:
Admissibility of Facsimile Copies • Contracts of Adhesion •
Unconscionability • Illegality • “No Default” Conditions •
Closing Conditions • Conditions v. Obligations: Conditions
Precedent • Forfeiture • Is There an Obligation to
Negotiate in Good Faith? • Statute of Frauds • Expressio
Unius Est Exclusio Alterius: Limitation v. Illustration •
Ejusdem Generis: Confusing Specific with General • Strict
v. Liberal Construction • Use of Different Phrases to
Convey Identical Concept • Handwritten v. Typed Provisions
• Typed v. Printed Provisions • Rule of Last Antecedent •
Rule of Adopting Construction That Favors Validity • Contra
Proferentem: Ambiguities Interpreted Against Drafter • UCC
Article 2 • Performance Standards • Substantial Performance
• Illusory Contracts
Chapter Five
Achieving Clarity • Words and Expressions
to Avoid • Use of “Aforesaid,” “Hereinafter,” “Hereby,”
“Hereof” and “Herein” • “Forthwith" • “Terms and
Conditions” • “Because” • “Willful” • “Said” • “Up To” •
“Any,” “Every” and “A” • “With Cause,” “For Cause” Or “For
Reasonable Cause” • Couplets: Repetition • Avoidance of
Run-on Sentences • Use of Word “Shall”: Discretionary or
Mandatory • Use of Term “So Long As” • Flexible Words and
Phrases • Legal Words and Terms of Art • Compound
Prepositions
Chapter Six
Boilerplate and Other Specific Provisions
• What Is Boilerplate? • Defaults and Remedies: Forfeitures
• Time of the Essence • Severability • Force Majeure •
Termination and Renewal • Alternative Dispute Resolution •
Choice of Law and of Venue • “Conditions” v. “Covenants” v.
“Provisos” • Indemnification • Consent and Approval
Provisions • Computational Provisions • Third-Party
Beneficiary Provisions • Dealing with Options •
Non-Disclosure Undertaking: Confidentiality Agreements •
Modification and Amendment Provisions • Rights of First
Refusal and of First Offer • Representations and Warranties
• Notice Provisions • Market-Shift Protection Devices •
Limitations on Liability for Breach • Contractual
Limitations of Action Periods • Exculpatory Provisions •
Due Diligence Provisions • Waiver of Jury Trial • Further
Assurances • Anti-Waiver Provisions • Assignment,
Delegation, Assumption and Novation • Succession
APPENDIX I LETTER OF INTENT TERM SHEET
PROVISIONS
APPENDIX II YELLOWSTONE PROVISION
APPENDIX III GENERIC DEFINITIONS
APPENDIX IV INDEMNIFICATION
