Post dating legal sinatures

15-Aug-2020 09:25

For example, if a contract is signed in counterparts, the parties could potentially execute it on completely different dates.In this scenario, using what is known as an "as of" formula might be appropriate.There are some potential pitfalls when you enter into a contract with a vendor or client, especially if you have a contract with no end date_._ While the contract is likely valid, it must detail enough information to outline the agreement and must include the signatures of all parties involved.Regardless of whether or not there is a contract expiration date, there are three elements that must be present for a contract to be legally binding: offer, acceptance and consideration.Backdating contracts is a somewhat common practice.

After a party makes an offer and the other party agrees to the offer, this is known as acceptance.“Consideration” simply means that the agreement must include an exchange of value between you and the other party involved.

This can cause the person accepting the instrument (in this case, a backdated document) to either do something or not do something based on the assumption that the instrument is genuine.