The execution date is the date on which the contract was signed by all parties involved. This may be the effective date of the contract, which may be indicated in the treaty. For example, Susan signs a lease on April 4, with a date that will move in on May 1. The execution date is April 4 and the effective date is May 1. In such cases, you can continue to execute agreements on behalf of the company. However, they will rely on common law rules with respect to the intent to maintain legal relationships and the power of individuals to enter into agreements on behalf of companies. In the previous example of the single director, the common law would generally accept the power of a single director to hire him and consider that the agreements are well executed. However, an act requires an additional execution formality that goes beyond a simple signature. Acts must be written and, as a rule, performed in the presence of a witness, whereas, in the case of a company, an act can be performed effectively by two directors or by a director and by the secretary of the company. Specific formulations should also be included above the signature blocks. Many types of documents and legal forms can be exported to ensure their effectiveness and bindingness.
The most common documents to be executed include contracts between two or more parties, such as leases. B, service contracts and sales contracts. These documents require the parties to meet the terms of the agreement. Subject to the trust evidence provided by another, individual agents will execute agreements similar to those of individuals in general. Similarly, company agents will execute agreements similar to those of companies in general. Presenting the implementation page of an agreement may seem like a small administrative formality. However, this is an essential element of the applicability of an agreement. Contracts and simple acts are often executed in the opposite stages. This means that each contracting party signs separate but identical copies of the same document. The signed copies together form a single binding agreement. Note: It is also important to know that specific transactions will have specific legal requirements. These requirements define how agreements can be properly executed.
That is the case, for example. B for certain real estate transactions and for the making of wills. 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 contract would have been executed once both parties had fulfilled their obligations. In the case of a real estate contract, this step is taken. Pending the change of payment and title, the contract can only be executed “enforceable.” Implementation of general or joint agreements by individuals is simple and there are no specific rules.