Draft a first-pass commercial contract from the term sheet
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Draft a first-pass contract that follows the term sheet the lawyer supplies, with square-bracket gaps for every commercial term the sheet does not state.
- What the lawyer must review
- Read every clause against the term sheet before anyone signs. Formal Opinion 512: uncritical reliance on generated text can fail Model Rule 1.1, and Comment 8 to Rule 1.1 requires the lawyer to understand the benefits and risks of the technology used. Model Rule 1.6 bars putting the term sheet into a tool that does not protect confidentiality. If the contract is for the sale of goods, open the Uniform Commercial Code as enacted in the chosen state; do not treat a generated citation as that enactment.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Open each relied-on authority independently. Confirm its existence, current status, proposition and any quotation or pinpoint reference.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Confirm that the actual tool, feature and processing terms permit use of this information, including access, retention, training and disclosure conditions.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| Mutual nondisclosure agreement (United States commercial discussions) | Agreement | AI use Yellow | Mutual nondisclosure agreement for two businesses exploring a US commercial deal. |
| Short-form services agreement (United States commercial) | Agreement | AI use Yellow | Short services agreement for a US commercial engagement: scope, fees, a liability cap, customer materials, and electronic signing under the ESIGN Act. |
Signed-in accounts can read the full text of each one. All precedents.