Founder - Intellexsys | Trade Mark Lawyer | Patent Attorney | Intellectual Property, Media & Information Technology | WIPO Summer School'15 | LL.M.'16 | Certified Mediator | CopyrightX & ContractX - Harvard Law School
True that, this reminds me of the Million-Dollar Comma Case wherein Bell Aliant was favoured for termination as per the clause below making Rogers Communications lose CAN$1 Million ! The clause was as follows - "This Agreement] shall be effective from the date it is made and shall continue in force for a period of five (5) years from the date it is made, and thereafter for successive five (5) year terms, unless and until terminated by one year prior notice in writing by either party." A quick recap - Contract: 2002, Rogers (telecom) leases poles from Aliant (agent for power company) at fixed rate for 5 years. Twist: 2004, power company raises rates, Aliant terminates Rogers contract with 1-year notice. Dispute: Comma placement in termination clause: Financial Impact: Early termination = Rogers pays power company's new, higher rates (estimated $1 million). Outcome: CRTC sides with Aliant. Comma doesn't restrict early termination. Takeaways: Contracts: Clarity crucial, ambiguity costly. Punctuation: Precise wording matters. #contracts #contractdrafting #legal #lawyer #lawyerlife
CEO and Director at Arthavat Legal and Compliance Solutions Pvt Ltd, and Director at Billion Steps Foundation
Pro tip: After 14 years of reading contracts and legal documents line by line; word for word; and syllable by syllable; guess what. I still read every legal document and contract line by line; word for word; and syllable for syllable. There is no substitute for this. Even if you miss a comma, you may end up in litigation. #contractdrafting #contractlaw #contractlawyer Arthavat Law Offices
Advocate & Legal Advisor
9moI completely agree - thoroughness is key when reviewing legal documents.