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Old 11-18-2016, 10:57 AM
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Hi Everyone

I have a friend that is working on an agreement and he is doing this on his own but she has hired a lawyer , there is a paragraph that states this, this agreement contains a spousal buy out as well.

Indemnities

14.3
A party who is under an obligation in this Agreement to reimburse or indemnify the other
will:
(1)
pay the other's expenses, damages or loss, including costs arising from the
party's obligation to reimburse or indemnify, and
(2)
indemnify the other from:
(a)
any amounts paid by him or
her with respect to the liability, plus interest
on the amount at
the post judgment interest rate per
year compounded
annually, and
(b)
actual legal fees and disbursements incurred by him or her.


Indemnification


14.4
In this Agreement, one party's indemnification of the other with respect to a debt will be
enforceable as a consent to judgment in favour of the party owed the indemnity and
against the party owing it
in the amount of the liability, plus the costs incurred to obtain
the judgment and enforce it


But further down it states this

16.13

Name and Mane will each pay their own solicitors fees for the preparation and negotiation and execution of this agreement
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Old 11-18-2016, 11:38 AM
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What is essentially says is:

1. If party A owes party B money, then party A will damn well pay that money

2.If party B has to spend anything to get the money from party A then party A will have to pay for that as well"
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Old 11-18-2016, 11:38 AM
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oh, forgot the 16.13 clause:

3. Each party will pay their own lawyer.
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Old 11-18-2016, 11:42 AM
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So if she is seeking spousal and once the agreement is signed would he have to pay for her lawyers fees ? in order to have this agreement done.

He doesn't have money for a lawyer and all this back and forth , so he is doing most of it himself regarding the agreement
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Old 11-18-2016, 11:44 AM
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why would he have to pay her lawyer fees? It says that they each pay for their own lawyer, not that they pay for the other party's lawyer.
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Old 11-18-2016, 11:45 AM
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If he is doing a spousal buyout, it might be worth paying a lawyer for a quick read through to make sure that it is actually worded correctly.
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Old 11-18-2016, 11:47 AM
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Ya I have advised him of that , once all the back and forth is over I advised him to have a Lawyer go over it.
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