Legal Instrument in United States
Practical Information
Note: Some of this information was last updated in 1982
A formal, written document, such as a deed (in U.S. law), bill (in U.S. law) (of Sale), lease (in U.S. law), or will (in U.S. law). It gives formal expression to a legal act or agreement. Although both legal instruments and court papers are referred to as legal documents, a legal instrument is not to be confused with a court paper. A court paper or pleading, as it is called professionally, constitutes a step in bringing or defending a lawsuit and is prepared and filed for the information of the court, whereas a legal instrument is designed for the use of the parties who sign it and constitutes evidence of the agreement between them. A legal instrument is not a step in a court action, but it is frequently the basis of one. Copies of a legal instrument are used frequently as exhibits in court actions.
Parties to an instrument
Those who acquire a right or give up a right, as evidenced by a written instrument, are the parties to the instrument. A party may be an individual, a partnership, or a corporation. Almost all instruments have two or more parties, but there are some for example, assignments and powers of attorney that have only one party. All parties who have a common interest in the subject matter of the document are grouped together and are usually referred to throughout the instrument by a descriptive identification, instead of by name. An expression occasionally used is “party (parties) of the first part,” “party (parties) of the second part.” More commonly the term may be a description such as contractor, seller, or any other term appropriate to the party’s interest in the subject matter of the instrument. There may be more than one party in a group designated by a descriptive term. Notice that the instrument illustrated in figure 1 has two parties of the first part but only one of the second part.
Execution of an instrument
Execution of a legal instrument is doing that which is required to give effect or validity to the instrument (see more). In relation to the instrument execution, read also attestation (in U.S. law), acknowledgment (in U.S. law) , attestation clause (in U.S. law); notary’s seal (in U.S. law); and testimonium clause (in U.S. law).
Signatures on a legal instrument
An instrument recites who will sign it (read more)See also contract (in U.S. law); deed (in U.S. law); bill of Sale; affidavit (in U.S. law) ; mortgage (in U.S. law).
What is Legal Instrument?
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