Parties who are negotiating or finalizing contracts or agreements are usually advised to obtain Independent Legal Advice (ILA) from separate lawyers who are unbiased and unrelated to their matter. Each lawyer that provides an ILA solely represents the interest of one party to the agreement.
The lawyer who provides you with an ILA reviews the agreement to confirm that you fully understand the nature and consequences of entering the agreement and that you are not under duress or force to negotiate or execute the contract.
INDEPENDENT LEGAL ADVICE CERTIFICATE
Upon receiving an ILA, the lawyer would present you with an ILA certificate. This certificate confirms that the lawyer reviewed the agreement with you and that you understand the terms of the contract.
An ILA certificate may prevent a party, at a future date, from challenging the agreement because such a party did not understand the content prior to execution.
For representation or for more information about ILAs, contact one of the experienced lawyers at Rabideau Law at 519-957-1001.
The blog published by Rabideau Law is intended as general information only and does not serve as legal advice. By viewing the blog posts, the reader understands there is no solicitor-client relationship established. Readers are urged to consult the business and corporate lawyers at Rabideau Law here for business-related concerns.
