My guess is that he wanted substantially similar terms, except for a few modifications. It's far easier to modify the existing contract than to write up an enti

My guess is that he wanted substantially similar terms, except for a few modifications. It's far easier to modify the existing contract than to write up an entire new one in that case. The other party still has the right of refusal. If they still do not wish to sign the contract after reading it, that is a choice available to them. If they choose to sign the contract without reading it...well...many people are bad at contracts...not the least of whom, are often banks.