Representations and Warranties in a Contract!
We advised a corporate client in a transaction to acquire 3 ha-land and assets attached to land (hereinafter referred to as “the land”) in a Northern province of Vietnam, from another company. We act on behalf of the Buyer. Since our client is not familiar with legal services and it is the first time they have been using legal services, our scope of works is limited to a number of key works such as drafting the contract, assisting the client during negotiations of the contract and following up until our client is legally recorded as the new owner of the land. Other works which our client can do itself including checking master plan to make sure that the land they acquire is not included in the construction planning for other projects, are carried out by the client. Nevertheless, when drafting the contract, we still include “representations and warranties” clause into the contract, in which we clearly specify that the Seller undertakes and warrants that the land is not included in any ...