This is from a delivery contract and the whole phrase is:
Any invalid provision shall deemed to be replaced by the parties by a valid provision ...
Does this mean that the parties "have to replace an invalid provision" or that "it is understood that the parties replaced an invalid provision"?
Any invalid provision shall deemed to be replaced by the parties by a valid provision ...
Does this mean that the parties "have to replace an invalid provision" or that "it is understood that the parties replaced an invalid provision"?