Board Minutes – Approval and Execution of Deeds

IN LIGHT OF THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023, THIS TEMPLATE IS CURRENTLY UNDER REVIEW. 

These Board Minutes – Approval and Execution of Deeds should be used when a meeting has been held at which a deed has been approved and is to be executed.

Use these minutes to approve a deed and record how it will be executed

A deed is traditionally a form of contract by which an interest, right or property passes to another person (or persons), or which places a binding obligation on a person (or persons), or which confirms the passing of an interest, right or property after the event.

Unlike simple contracts, neither party needs to provide consideration (such as payment). This distinguishes deeds from simple contracts, which will be void and unenforceable unless consideration is given by the party to which a promise is made.

Deed formalities and delivery

Until 1990, deeds had to be signed, sealed and delivered. Since then, the law has been relaxed and deeds can now be used for any legal purpose, but certain formalities must still be met for a deed to be valid.

The deed must still be delivered. A document is presumed to be delivered upon its being executed, unless a contrary intention is proved.

How a company may execute a deed

Companies may execute deeds in one of the following ways:

• By affixing the common seal of the company.
• By being signed by two directors.
• By being signed by a director and the company secretary.
• By being signed by one director in the presence of a witness who attests the signature.

Board Minutes – Approval and Execution of Deeds is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.