DRAFT INSTRUMENT Meaning and
Definition
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A draft instrument refers to a written legal document or contract that outlines certain terms, conditions, or obligations, typically in a preliminary or unfinished state. It is a preliminary version of a legal document that is created and presented for review, revision, and finally, execution or enactment.
A draft instrument can be used in various contexts, such as law, finance, or international agreements. It is generally produced by legal professionals, like lawyers or solicitors, who work closely with their clients to understand their requirements and draft an instrument that meets their needs. The aim of preparing a draft instrument is to ensure that all parties involved have a clear understanding of the proposed agreement or legal framework.
Typically, a draft instrument is shared with the concerned parties, such as individuals, organizations, or government bodies, for their review and feedback. It allows them the opportunity to suggest modifications, additions, or deletions before the final version is prepared. The process of reviewing and revising a draft instrument is often iterative, involving multiple rounds of edits and negotiations.
Once all parties have agreed on the final version of the instrument, it is executed or enacted, rendering it legally binding. The draft instrument serves as a crucial foundation for formalizing legal agreements, contracts, regulations, or any other written document with legal implications.
In summary, a draft instrument is a preliminary version of a legal document or contract that undergoes review, revision, and eventual execution to formalize legal agreements or obligations.
Etymology of DRAFT INSTRUMENT
The word "draft" comes from the Old English word "dræft" which means a pulling, drawing, or a drawing of a liquid. It is ultimately derived from the Proto-Germanic root word "draganą", meaning "to draw or pull". Over time, "draft" developed a broader sense of drawing up or composing something, such as a written document.
On the other hand, the word "instrument" has its roots in Latin. It comes from the Latin word "instrumentum", which means a tool or a utensil. This word is derived from the Latin verb "instruere", meaning "to set up, arrange, or equip".
When these two words are combined, "draft instrument" refers to a written document or legal instrument that is in the process of being composed or drawn up.
