Contract Glossary
Affidavit
Definition
A written statement of facts made under oath and signed before a notary public or other authorized official. An affidavit is a legal declaration that the statements within it are true to the best of the signer's knowledge. Lying in an affidavit constitutes perjury, a criminal offense.
In Practice
A business is selling its assets and the buyer requires an affidavit confirming there are no outstanding liens or claims against the property. The seller signs a sworn statement before a notary listing all known encumbrances (or confirming there are none). If the seller lies, say, they hide a tax lien, they've committed perjury and can face criminal charges on top of civil liability for the misrepresentation.
Example Clause
I, [Name], being duly sworn, hereby declare under penalty of perjury that the following statements are true and correct to the best of my knowledge, information, and belief: [statements of fact]. Signed and sworn before me this [date] day of [month], [year]. [Notary signature and seal].
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