party of the first part
Initial contractual entity
Party of the first part is legal jargon for one of the principals in a contract—typically the one named first.
Contracts traditionally identify signatories as "party of the first part" and "party of the second part" rather than by name, a style now considered needlessly opaque.
The phrase has become shorthand for legalistic verbosity: The party of the first part shall hereinafter be known as the party of the first part.
- privity of contractLegal bond between agreeing parties
- signatoryOne who signs officially
- contractEnforceable written agreement
- agreementShared position between parties
- meeting of the mindsMutual agreement between parties
signing ceremony · dotted line · clause · obligation · assignee · novation · stipulation · legalese · hereinafter · principal · whereas · provision · fine print · boilerplate language · negotiation · accord · covenant · consent