Template Board Minutes for the Approval and Execution of Deeds

Board Minutes – Approval and Execution of Deeds

CO.CA.MM.09
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.

Traditionally a deed is a form of contract whereby 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. 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.

Until 1990, deeds had to be signed, sealed and delivered. Since, the law has been relaxed and deeds can now be used for any legal purpose but certain formalities must be met for the deed to be valid. The deed must still be delivered but a document is presumed to be delivered upon its being executed, unless a contrary intention is proved. 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

These Board Minutes – Approval and Execution of Deeds are in open format. The requisite details should be inserted into the highlighted fields or the wording can be adjusted to suit your purposes. Wording in square brackets is optional. If it is required, then the brackets should be deleted and the wording within them retained. If the wording is not required, then it can be deleted.

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