Multiple originals: Overview, definition and examples
What are multiple originals?
Multiple originals refer to the practice of executing several identical copies of a contract, each signed by all parties involved. These copies are considered equally valid, and each party receives one original signed document. This is commonly done to ensure that each party has a fully signed, legally enforceable copy of the agreement.
Why are multiple originals important?
Multiple originals are important because they ensure that all parties involved in the contract have an authentic, signed copy of the document. This eliminates the need for one party to send or receive the original contract after signing. In the event of a dispute or legal requirement, having multiple originals means each party can produce an original document without the risk of losing access to it.
For businesses, using multiple originals provides clarity and security by ensuring that all parties have an equal stake in the signed agreement.
Understanding multiple originals through an example
Imagine two companies, Company A and Company B, entering into a partnership agreement. Both companies want to ensure they each have a signed version of the agreement. Instead of sending the original document back and forth, they each sign identical copies, with each company keeping one signed original. Now, both companies can refer to their own original document if needed.
This is especially helpful for legal purposes, as each party can use their original copy in court or for compliance verification.
An example of a multiple originals clause
Here’s how a multiple originals clause might appear in a contract:
“This Agreement may be executed in multiple originals, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.”
Conclusion
Multiple originals are a practical and legal way to ensure that all parties have a valid, signed copy of a contract. This method eliminates the hassle of having to send back and forth the original document, ensuring that each party has access to their own signed copy. By understanding the use of multiple originals, businesses can streamline the process of signing and maintaining contracts.
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.