One original: Overview, definition, and example
What is "one original"?
One original refers to a single, original version of a document, contract, or item that is considered the authentic or authoritative copy. In legal and business contexts, it typically means the primary or first draft of a document, which may be signed, executed, or filed, and is often distinguished from copies or duplicates. The term is commonly used in situations where an agreement or important document must be signed or stored in its original form for legal or operational purposes.
For example, a contract may require the signing of one original document, which will be kept by one party (often the company or the holder of the agreement), while the other party may receive a copy.
Why is "one original" important?
The concept of one original is important because it ensures that there is a definitive and legally binding version of a document. Having a single original helps prevent confusion about which version is the valid one, ensuring that there is no ambiguity in legal or business matters. This is particularly significant in contracts, deeds, and other agreements where the authenticity of the document may be challenged or must be referred to in the future.
For businesses and legal entities, preserving the one original ensures that transactions, agreements, and decisions are fully documented and enforceable. It provides clarity and certainty about the terms and conditions of an agreement, protecting both parties in case of future disputes.
Understanding "one original" through an example
Imagine a real estate transaction where the buyer and seller sign a purchase agreement. The contract specifies that one original document must be signed by both parties and retained by the seller’s attorney for future reference. The buyer receives a copy of the signed document. If any questions arise about the contract, the seller's original version of the agreement is considered the definitive, authoritative record of the terms.
In another example, a company enters into an employment agreement with an employee. The agreement specifies that one original copy must be signed by both the employee and the employer, and that the employer will retain the original signed document. This ensures that if any disputes arise, the signed original is available to clarify the terms.
Example of a "one original" clause
Here’s how a one original clause might appear in a contract:
"The Parties agree that one original copy of this Agreement will be executed and retained by [Party A]. Each Party will receive a copy of the executed Agreement for their records. The original copy shall be the binding and authoritative version of the Agreement."
Conclusion
One original is a key concept in ensuring that there is a single, legally binding document that serves as the authentic version of an agreement or transaction. It prevents ambiguity, ensures clarity in legal matters, and provides a reliable reference for future actions.For businesses, handling and preserving the one original document is essential for maintaining legal compliance, safeguarding against disputes, and ensuring the authenticity of business transactions.
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.