Counterpart Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Counterpart, written in plain English, along with examples of how it is used.
What is Counterpart?
Something which is duplicate of the other or has same charateristic and resemblense to the other. It also refers to a part of a document of in contract which are signed by the parties to the contract who live in different geographical locations.
History and Meaning of Counterpart
The term counterpart has its roots in medieval English law, referring to one of two corresponding copies of a legal document, each of which was signed and kept by a party to the agreement. The word "counterpart" derives from the Latin "contra partes," meaning "against the parties." In modern usage, counterpart still refers to a legally binding document, but it may also be used to describe any object or entity that corresponds to or resembles another.
Examples of Counterpart
A buyer and seller enter into a contract for the sale of goods. Each party signs one copy of the contract, creating two counterparts, one for each party.
A tenant and landlord execute a lease agreement. The tenant signs one counterpart of the lease and returns it to the landlord, who signs the other counterpart and keeps both copies.
Two corporations enter into a merger agreement. Each corporation signs one counterpart of the agreement, and both counterparts are combined to create the final agreement.
Legal Terms Similar to Counterpart
Duplicate - A second or identical copy of a document, contract, or record.
Original - The first or authoritative version of a document or contract, often the one that is signed and kept by all parties.
Executed copy - The counterpart of a legal agreement that has been signed and legally binding.