In contracts and settlement agreements, we usually see boilerplate defining an individual party as including that individual party’s “heirs, personal representatives, agents, transferees, servants, employees, attorneys, representatives, successors and assigns” or something similar.
You also regularly see a paragraph stating something like “this Agreement shall be binding upon the undersigned and their respective heirs, executors, administrators, successors, transferees, assigns, agents and attorneys.”
So, how important is this boilerplate? According to the Missouri Court of Appeals in Anderson v. Parker, very important. (more…)