How To Summarize An Agreement

Each set is composed of part of the original text of the contract and a summary in simple English. Examples of the original text and summary are presented in Table 2. List all the important points of the agreement, ideally in different enumeration points. Enumeration points are easier to read and absorb because they break down a complex problem into easily digestible bits. Enumeration points should provide the basis for the agreement and not exceptions, special clauses or technical details. The executive, who does not deal with tires every day, may want to know that Tires Inc. has agreed to fulfill tire orders within 25 calendar days, but does not need to know that if an order is greater than 50,000 tires, this period will be extended to 30 days or that special rules apply to tires larger than 19 inches in diameter. Suffice it to add that large orders and some tire sizes contain special clauses. Remember that the reader can always refer to the full legal agreement for details.

Instead of trying to summarize an entire document, these sources summarize each document at the section level. In this way, the reader can, if necessary, refer to the more detailed text. The summaries of this dataset are verified by the first author, who has 3 years of experience in professional contract design. Each subsection of this document is briefly summarized in plain language. The summary contains essential elements of the information that suppliers must provide to the consumer before the conclusion of the contract (pre-contractual information). The contract enters into force when the consumer has confirmed his agreement after receipt of the summary. After the conclusion of the contract, the information provided pre-contractually as well as the merger of the contract form part of the contract. Although Internet users regularly accept unilateral contracts such as terms of use, it is known that these users rarely read them. Nevertheless, these are binding contractual agreements. A recent study suggests that up to 98% of users do not fully read the terms of use before accepting them (Obar and Oeldorf-Hirsch, 2018). In addition, they find that two of the three main factors indicated by users for not reading these documents are that they are perceived as too long (“flood of information”) and too complicated (“difficult to understand”). This can be seen in Table 1, where a section of the terms of use of a popular phone app contains a 78-word paragraph that can be summarized into a 19-word summary.

Explain why the legal agreement is important. Since the reader probably won`t be an expert in this area, he or she will need you to explain the importance of this agreement. Was the price abnormally advantageous, the preparation time particularly short or the penalties very high if the orders were not executed on time? Explain the strengths and, if applicable, weaknesses of the agreement. . . .