Sign only if you wish to be bound

Contracts

It is a common practice in certain sectors where parties enter into a short form agreement, typically a letter of offer or letter of award which requires the parties to enter into an agreement within a specified period of time. The second agreement sets out the detailed terms and conditions. Such practice is commonly seen in banking facility agreements and construction related agreements.

The terms and conditions of the letter of offer or letter of award are usually legally binding and incorporated into the detailed agreement.

Parties should check the terms and conditions of the letter of offer or letter of award carefully and sign only if they agree to the terms and conditions.

They should not sign the letter of offer or letter of award thinking that they could change the terms and conditions later when they enter into the detailed agreement.

Once accepted, any amendment to the terms and conditions of the letter of offer or letter of award is subject to the other parties’ consent, which may not necessarily be forthcoming.

#malaysiancorporatelawyer

#thinkbeforeyousign

This post was first post on Linkedin on 24 February 2021.

Linkedin Post
Five key steps for legal due diligence

Most lawyers are good at identifying issues, but legal due diligence shouldn’t be limited to merely reviewing documents and identifying issues. Here are my five steps for conducting legal due diligence: 1. Identify the issues based on the scope of legal due diligence as agreed with the clients. 2. Provide recommendations …

Linkedin Post
Begin with the end in mind: Post-completion integration

I once worked on an M&A deal that took more than a year to complete. While the deal was not inherently complex, it dragged on due to delays in finalizing the details of the transaction agreements for reason beyond my control. As the deal involved a larger corporation acquiring a …

Lawyering
Being a Corporate Lawyer: Why I Do What I Do

After years of demanding schedule and juggling simultaneous corporate exercises which take a toll on physical and mental health, it is not surprising that some corporate lawyers experience burnout. Unlike some legal practice areas, the work of a corporate lawyer may not seem immediately impactful or “make a difference” to …