WHAT YOU SHOULD DO:

# 1. Post a blog 3 times a week (M, W & F) of at least 200 words. In your blogs you could:
-describe something you learned
-explain something that surprised you
-give an update about stuff you're working on
-explain how you solved a problem
-tell a cool story

Also include images, sounds or video from your project.

# 2. Respond thoughtfully to another blogger's posts on this site. Post 1 of these response-blogs per week (200 or more words each).

Each of you is expected to contribute to this blog--even if you're working with another senior or with a group.

I'm really looking forward to following your project via your postings! Have fun!

Wednesday, May 18, 2011

Operating Agreements



As I have spent time at the firm, I have realized that law is A LOT about reading, drafting, and redrafting documents. In anything legal, it is important to document and lay out any transaction, procedures to face ANY possible issue, and define any and all relationships between the parties involved in the buying/selling of something. The past couple of days I have been working a lot on operating agreements. Operating Agreements are an agreement between a Limited Liability Company Members in order to direct the LLC's business and the duties/obligations/interests of the Member's. I have been working on a particular agreement between an airplane company and a florida LLC. The operating agreements are about 15 pages long and are divided into articles that lay out the interests, the rules for how to dipose/add a member, and basically the terms under which the company's are entering into this agreement. These are created ahead of time so that later after the agreement has been made and either company/member runs into an issue, they can refer to the agreement they signed to resolve their conflict and check that they are performing their responsibilities correctly. Mostly in these agreements I have been rewriting the form to change the companies invovled and also to change from a multi-member agreement to a single member agreement. I then had to create an AMENDED AND RESTATED operating agreement in which another member was added, so the agreement had to be made into a multi-member transaction which affect the amount of articles and the language of the document.
Taking a closer look at legal writing, I realize how dry and concrete everything is, much unlike my creative essays and it even makes my dryest analytical essays seem flowery! Legal writing uses a lot of words like whereas, thereto, and hereby. In this writing, the author is repetitive and always trying to drive home the point of which party is which, and to whom this party is affecting, and to what that party will gain, and it goes on and on and on. The suprising thing is that I really don't mind this writing style. It is so professional and clean cut.

No comments:

Post a Comment