This Agreement May Be Signed In Counterparts Meaning
As a general rule, a counter-clause would be: “This agreement can be executed in any number of counterparties, each, when executed and delivered, represents an original double, but all the considerations combined constitute a single agreement.” There is no clear agreement on this point. Most lawyers will therefore fail on the caution page and will say that two directors (or another combination of two authorized signatories) sign a document on behalf of a company that must sign copies of this document. The section of the Company Act, which deals with enforcement, refers to the execution of a singular document. An electronic signature (e-signature) is a sound, symbol or electronic process that is associated with or logically associated with a contract or other data set. It is executed (signed) or accepted by a person with the intention of signing the recording. An original signed copy of a document in accordance with the law is always an acceptable consideration. In some cases, the signature must be signed in the presence of a notary or verified by an identifier. Disclaimer: The information contained in this article and on this website serves only general understanding and is not designed as legal advice. Each case is unique, and laws and regulations are constantly changing. If you have questions about legal documents, discuss them with a lawyer. In recent years, more and more people have used electronic signatures (e-signatures) to sign contractors. This is supported by the case law that a “counterpart” is in itself a separate act which, together with the principal and all the other counterparties, constitutes an act.
This means that a document purported to be a valid counterpart must be properly executed by the party, which would probably not be the case if the two signatories signed separate copies. To avoid these difficulties, it is possible to sign a “virtual” contract. In other words, the signature pages are prepared and executed in advance and the signatures are “shared” after mutual agreement, often by email. A (relatively) new issue in contract law is when an electronic signature functions as an ordinary paper letter signature to attach it to an agreement. Examples of electronic signatures are the entry of your own name at the end of an email, the click of a “I agree” button, or the entry of your name or code, password or PIN in a field in an electronic form. Electronic signatures must be taken into account with respect to a counterparty clause, since these signatures are generally used for agreements signed by parties who are not in the same place and who each sign electronic “copies” of the same agreement. Contract law may change over time, as seen, given the absence of a counter-clause clause. Although it has had its use in the past, most agreements no longer need it. If you are wondering about the legality of an electronic signature in a particular contract, look first at the contract and the counterparty clause.
If you are still unsure, speak to a lawyer. A counterparty clause stipulates that the parties who sign the agreement are not obliged to sign all the same copies.