rovers2
Bruce Bannister
Joined: May 2014
Posts: 326
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Post by rovers2 on Aug 28, 2014 13:51:43 GMT
He is probably right when he says the contract is watertight, if it is not watertight then the lawyers representing the club are accountable. No he's not. No they're not.
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eagas
Joined: June 2014
Posts: 12
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Post by eagas on Aug 28, 2014 14:15:44 GMT
why write that? I deal with contracts on land and development deals and after giving the lawyers the scheme and agreement summary, its then the lawyers that create and argue about the legal points. I can not see why this is any different?
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rovers2
Bruce Bannister
Joined: May 2014
Posts: 326
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Post by rovers2 on Aug 28, 2014 14:42:21 GMT
why write that? I deal with contracts on land and development deals and after giving the lawyers the scheme and agreement summary, its then the lawyers that create and argue about the legal points. I can not see why this is any different? I got my opinion from speaking to a Corporate Lawyer of a "Magic Circle" firm in London yesterday. So that is why I wrote that. edit: in the end that was a quick opinion and of course we may have a case to sue our own lawyers.
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Post by mancgas has left the building on Aug 28, 2014 15:12:05 GMT
He is probably right when he says the contract is watertight, if it is not watertight then the lawyers representing the club are accountable. No he's not. No they're not. correct, at end of the day our authorised signatories signed the contract and if they didnt read what was in clause 1 we would not have a hope in hell of recovering from the lawyers, even if the contract was drafted contrary to initial instruction. In 35 years dealing with complex contracts I've never known a formal written contract for £10,000 let alone £30 million where signing and authority was granted to a lawyer, without the firm itself scrutinising and signing off the heads of agreement and final contract with authorised signatories within the contracting firm signing it to execute the contract . Never. Ever. If such authority was ever delegated to a third party the firm and directors responsible would leave itself wide open to being sued by the shareholders and inconceivable even our shambles could have done that.
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brizzle
Lindsay Parsons
No Buy . . . No Sell!
Joined: May 2014
Posts: 4,293
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Post by brizzle on Aug 28, 2014 15:33:24 GMT
No he's not. No they're not. correct, at end of the day our authorised signatories signed the contract and if they didnt read what was in clause 1 we would not have a hope in hell of recovering from the lawyers, even if the contract was drafted contrary to initial instruction. In 35 years dealing with complex contracts I've never known a formal written contract for £10,000 let alone £30 million where signing and authority was granted to a lawyer, without the firm itself scrutinising and signing off the heads of agreement and final contract with authorised signatories within the contracting firm signing it to execute the contract . Never. Ever. If such authority was ever delegated to a third party the firm and directors responsible would leave itself wide open to being sued by the shareholders and inconceivable even our shambles could have done that. Let me begin by saying that I am not a legal eagle, in any way shape or form. Having said that it has always been my experience that when I am about to commit myself to a legally binding contract the solicitors who are representing me take me through the contract prior to my signing, so that I am aware of exactly what I am committing myself to. Am I correct in saying that this is tied-in to some form of Code of Conduct, or even common sense?
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Post by mancgas has left the building on Aug 28, 2014 16:19:05 GMT
correct, at end of the day our authorised signatories signed the contract and if they didnt read what was in clause 1 we would not have a hope in hell of recovering from the lawyers, even if the contract was drafted contrary to initial instruction. In 35 years dealing with complex contracts I've never known a formal written contract for £10,000 let alone £30 million where signing and authority was granted to a lawyer, without the firm itself scrutinising and signing off the heads of agreement and final contract with authorised signatories within the contracting firm signing it to execute the contract . Never. Ever. If such authority was ever delegated to a third party the firm and directors responsible would leave itself wide open to being sued by the shareholders and inconceivable even our shambles could have done that. Let me begin by saying that I am not a legal eagle, in any way shape or form. Having said that it has always been my experience that when I am about to commit myself to a legally binding contract the solicitors who are representing me take me through the contract prior to my signing, so that I am aware of exactly what I am committing myself to. Am I correct in saying that this is tied-in to some form of Code of Conduct, or even common sense? not in my experience of commercial contracts, as would take days/weeks for complex contracts - can be hundreds of pages long, when annexes etc are taken into account. But we do have pre signing meetings where the executive of the firm ask specific questions of anything we are uncertain off of the lawyer involved in the drafting for our side,and even they can take many hours/days. Generally in my experience the contractual relationship with corporate lawyers, other than in matters of litigation, is different from say a domestic house purchase ie they are not representing you, they are paid by you to produce a contract wording which meets your instructions and the various codes and practices/statutes and agree the form of contract with other sides lawyers and prepare it for signature by the relevant parties.
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brizzle
Lindsay Parsons
No Buy . . . No Sell!
Joined: May 2014
Posts: 4,293
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Post by brizzle on Aug 28, 2014 16:31:49 GMT
Let me begin by saying that I am not a legal eagle, in any way shape or form. Having said that it has always been my experience that when I am about to commit myself to a legally binding contract the solicitors who are representing me take me through the contract prior to my signing, so that I am aware of exactly what I am committing myself to. Am I correct in saying that this is tied-in to some form of Code of Conduct, or even common sense? not in my experience of commercial contracts, as would take days/weeks for complex contracts - can be hundreds of pages long, when annexes etc are taken into account. But we do have pre signing meetings where the executive of the firm ask specific questions of anything we are uncertain off of the lawyer involved in the drafting for our side,and even they can take many hours/days. Generally in my experience the contractual relationship with corporate lawyers, other than in matters of litigation, is different from say a domestic house purchase ie they are not representing you, they are paid by you to produce a contract wording which meets your instructions and the various codes and practices/statutes and agree the form of contract with other sides lawyers and prepare it for signature by the relevant parties. In that case I'm happy to agree that we have had different legal experiences.
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