This is the Acknowledgement paragraph:
ACKNOWLEDGEMENT
The Seller(s) hereby acknowledge that the Seller(s) fully understand the terms of this Agreement and have received a copy of this Agreement
on the …………………………. day of ……………..…………, 20 …………………………..
__________________________________________________________________________________________
(Signature of Seller) (Date)
__________________________________________________________________________________________
(Signature of Seller) (Date)
Review
Set out below and marked in bold and italics are those words that are inserted by me to assist in the review. They are not set out in the clause itself. Let’s look at that paragraph in a little more detail:
ACKNOWLEDGEMENT
The Seller(s) hereby acknowledge that the Seller(s)
Full Understanding
fully understand the terms of this Agreement and
Receipt of Copy
have received a copy of this Agreement
COMMENT
It is rather interesting here, that each of the Sellers “sign” for themselves as well as any other Sellers, confirming that they ALL understand. Ordinarily, the Sellers would each sign for themselves.
Naturally, this is a matter that the agent requesting the signature should bring to the attention of each of the Sellers before they sign.
Brian Madigan LL.B., Broker