- Buying an apartment in Israel
- Contract Structure
In this chapter we will focus on the formal structure of the contract of sale. This structure consists of the guidelines imposed on us by the legislature and the style of the parties’ lawyers, and of course the needs of the parties themselves, which therefore have different styles of sales contracts, while the principles are similar.
The seller and the buyer who sign the contract are responsible for complying with the provisions of the contract and not the attorneys who represent the parties, not the state authorities, not the banks or any other entity. Even if the lawyer signs the contract through the power of attorney, he is only a tool and acts as an agent.
Although the parties rely on the attorneys who drafted the contract, those who signed the contract are responsible for its existence and will bear the consequences if they do not fulfill the contract; they and not their lawyers.
It is therefore important that the contract be worded in a simple and clear manner, that the signatories understood what was said in it. It is a mistake to draft a contract in a sophisticated way and in language clear only to the lawyers.