Ambiguity: am·bi·gu·i·ty (ambəˈɡyo͞owədē/) – noun – uncertainty or inexactness of meaning in language. Secondary meaning: what we write into our agreements so that generations of lawyers can send their children to law school.
Should we illustrate an ambiguity? Of course, what is Ruminations waiting for? Here is a disputed provision from the property purchase agreement in front of a United States District Court whose May 19, 2016 decision can be read by clicking HERE.
Buyer expressly releases Seller and agrees to waive all rights that it may have to seek contribution from Seller for any response costs or claims that may arise as a result of the actions or inactions of Seller and any previous owner, operator or third party on or with respect to the Property relating to Hazardous Substances.
Now, here’s the story, very little of which will be found in the court’s decision. An aluminum producer operated a factory in ten story, reinforced concrete building adjacent to a serious river. Its manufacturing process required furnaces to heat aluminum billets to soften them for shaping. The billets (and other items) were moved with fork-lift trucks. Those trucks had hydraulic lifts. Normal hydraulic fluid has a relatively low flash point, making use of the forklifts near the furnaces “unwise.” [Read more…]
Print
Our last posting brought out dozens of comments, representing a wide spectrum of views. Almost all responders noted the connection between letters of intent and the time it takes to get a deal done. Beyond that there was little consensus. So, we’ve had over 100 comments on that topic – getting the deal done faster – but no one yet has suggested a major reason. Ruminations has a suggestion – the people responsible for negotiating leases (especially) don’t seem to have a sense of urgency. 
Recent Comments