Contracts are only valid if they are validly executed. For a contract to be
enforceable, it must, amongst other things, be executed or signed in the
correct manner. As a template site, it is vital that our contracts include
the correct execution clauses.
This month the guidance note on the formalities for signing deeds and
contracts has been updated. This is in part due to a change to the wording
in prescribed form deeds executed by companies and limited liability
partnerships that the Land Registry will accept going forward. In addition and in the
interests of consistency, the attestation clauses in the loan portfolio of
templates that may be affected by this change, such as the loan security
agreements, have also been updated.
The guidance note explains the difference between a simple contract and a
deed; when a deed should be used and the difference in how simple contracts
and deeds should be executed. The guidance also provides a range of sample
attestation clauses for individuals, companies, LLPs, partnerships and
attorneys to use.
This guidance will be useful for all company directors, secretaries and
administrators who execute contracts on behalf of a company or are involved
in arranging for their execution.
The contents of this Newsletter are for reference purposes only and do not constitute
legal advice. Independent legal advice should be sought in relation to any specific