Constructively ambiguous definition

Constructively ambiguous simply means ambiguity in contracts as a way to re- duce transaction costs and facilitate the closing of efficient transactions. The features of an ambiguous contract include: incompleteness, inconclusiveness of terms and/ or provisions (i.e. vague language), abstaining from explicit or clear drafting, open efforts (e.g. “within the context of society”), internal inconsistencies, and failure to address a contingency. Should a court face an ambiguous contract it must employ contextual interpretations. The term “constructive ambiguity” is often credited to Henry Kissinger, as he reportedly used ambiguity as a negotiating technique in international agreements. See Michal Shur-Ofry and Ofer Tur-Sinai, “Constructive Ambiguity: IP Licenses as a Case Study,” University of Michigan Journal of Law Reform 391, (2015): 391-435.
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Related to Constructively ambiguous

  • Constructively Owned shall have the correlative meanings.

  • Constructive Owner, “Constructively Owns” and “Constructively Owned” shall have the correlative meanings.

  • Constructively Owns means ownership determined through the application of the constructive ownership rules of Section 318 of the Code, as modified by Section 856(d)(5) of the Code. Generally, these rules provide the following:

  • Constructive Ownership means ownership of Shares by a Person, whether the interest in the Shares is held directly or indirectly (including by a nominee), and shall include interests that would be treated as owned through the application of Section 318(a) of the Code, as modified by Section 856(d)(5) of the Code. The terms “Constructive Owner,” “Constructively Owns” and “Constructively Owned” shall have the correlative meanings.

  • Constructively Own means ownership under the constructive ownership rules described in Exhibit C.