Conclusion: Overview, definition, and example
What is a conclusion?
A conclusion refers to the final section or summary of a document, argument, or agreement that encapsulates the key points, decisions, or results. In legal and business contexts, the conclusion is often used to summarize the purpose of the document, the agreements made, and the next steps to be taken. It helps to reaffirm the terms and clarify any outstanding obligations or requirements, ensuring that all parties understand their responsibilities moving forward. The conclusion may also serve to formally close the discussion or agreement.
For example, a contract might end with a conclusion that outlines the final responsibilities of each party, a recap of the agreement’s terms, and a statement about the execution or implementation of the contract.
Why is a conclusion important?
A conclusion is important because it provides clarity and closure, ensuring that all parties understand the final terms and expectations. It helps prevent misunderstandings by summarizing key elements of the agreement or discussion and often includes action items or next steps. In contracts, the conclusion is essential for formally completing the document and ensuring that both parties are on the same page regarding the outcomes of their negotiations or dealings.
For businesses, having a well-crafted conclusion in contracts and agreements ensures that all terms are clearly understood and that both parties are prepared to take the necessary actions.
Understanding a conclusion through an example
Imagine a business agreement between a company and a supplier. The conclusion of the contract may include a summary of payment terms, delivery schedules, and other key provisions, followed by a statement affirming the execution of the agreement and any actions the parties need to take next. The conclusion ensures both parties understand the contract’s requirements and are ready to move forward with implementation.
In another example, a legal argument in court may end with a conclusion that summarizes the findings, presents a final judgment, and outlines any further legal steps or actions that need to be taken.
An example of a conclusion clause
Here’s how a conclusion clause might look in a contract:
“In conclusion, both Parties agree to the terms outlined in this Agreement. The obligations of each Party, including payment terms and delivery schedules, are fully understood, and both Parties commit to fulfilling their respective responsibilities as agreed. This Agreement shall be executed as of [Insert Date], and the Parties shall proceed with the implementation as outlined.”
Conclusion
The conclusion is a vital part of any contract or agreement, providing a final summary and clarifying the responsibilities and expectations of the parties involved. It ensures that all key points are addressed and that there is no ambiguity about the actions required next.
For businesses, having a clear and well-defined conclusion in contracts and agreements is essential for ensuring smooth implementation and preventing potential disputes.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.