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Reviewing and comprehending key obligations, entitlements, and prohibitionsin legal contracts can be a tedious task due to their length anddomain-specificity. Furthermore, the key rights and duties requiring reviewvary for each contracting party. In this work, we propose a new task ofparty-specific extractive summarization for legal contracts to facilitatefaster reviewing and improved comprehension of rights and duties. To facilitatethis, we curate a dataset comprising of party-specific pairwise importancecomparisons annotated by legal experts, covering ~293K sentence pairs thatinclude obligations, entitlements, and prohibitions extracted from leaseagreements. Using this dataset, we train a pairwise importance ranker andpropose a pipeline-based extractive summarization system that generates aparty-specific contract summary. We establish the need for incorporatingdomain-specific notion of importance during summarization by comparing oursystem against various baselines using both automatic and human evaluationmethods

What to Read in a Contract? Party-Specific Summarization of Legal Obligations, Entitlements, and Prohibitions