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Gold/Mining/Energy : Winspear Resources
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To: average joe who wrote (15985)3/17/1999 12:40:00 PM
From: Walt  Read Replies (1) of 26850
 
Thanks for the info Joe, and I have read them and have a copy of the one you refer to and they prove just how complicated these things can get. Personally I like simple agreements that are short to the point and in english so everyone can understand what they mean.
I have also seen agreements so complex even the lawyers who wrote them aren't sure what they mean.
I also know that the courts often make rulings which boggle the mind amd have little to do with the agreements.
I also know in the industry, despite what agreements may or may not say alot is done verbally and on a hand shake.
By the way the book you refer to is good in some sections but terribble in others. I wish someone would come up with "standard"agreements but untill they do its a bit of a nightmare.
If you want a real exercise in futility try to figure out just what an NSR really means under some agreements.
One of my favorites was an agreement I was asked to look over for a prospector. It was a short agreement 10 pages, three of which descrided an NSR where all expenses for anything and everything the company spent on the property (or adjacent properties from overhead to exploration and mine developement) could be deducted then it said at any point the NSR could be bought out for a half million. Unfortunately the prospector had already signed the agreement but he got hosed.
So be carefull of the agreements you sign.
regards Walt
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