Back in the day, we used to write dollar amounts using numbers and words to prevent fraud. Now, with so many electronic copies on everyone’s email servers, can we change to just numbers? LOI’s and term sheet have numbers only, and if it adds no legal significance, why risk screwing it up?

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Makes too much sense, so seems unlikely

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The corporate partner I work under feels strongly that you shouldn’t double write the number (i.e. “One Hundred Dollars ($100.00)”). He feels it’s too easy to screw up and only change one so they are inconsistent. I’ve seen this happen as well.

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Easier to make a mistake typing one digit opposed to a whole word. It is a protection against human error

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In my experience, the translation of numbers to words is where a lot of error comes in.

likesmart

Thank you.

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Of course, I have seen typos where the numbers get big. The words normally rule over the numbers, so if you type $1,100,000 but really mean one hundred ten thousand, you're OK if that's what the words say.

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