This Agreement May Be Executed In Two Or More Counterparts

In recent years, more and more people are using electronic signatures (electronic signatures) to sign counterparties to contracts. However, a document requires an additional execution formality that goes beyond a simple signature. The act must be in writing and, as a rule, executed in the presence of a witness, although, in the case of a company, a document may actually be executed by two directors or a director and by the company secretary. Specific formulations should also appear above the signature blocks. The second justification, taken from the American Bar Foundation`s comments on Model Debt Indenture commissions, states (p. 590) that „it is highly desirable to include a provision concerning counterparties in order to avoid any problem that is the original of several signed copies of the Indenture.“ The absence of a counterparty clause does not in itself entail the invalidity of an agreement which the parties execute from separate counterparties. However, a counterparty clause may help prevent a party from claiming that an agreement is not binding because there is not a single copy of it signed by all parties or because it was unaware that it is cancelling a binding contract by signing an agreement that has not been signed by the other parties. The counterpart clause states that the parties are not obliged to sign the same copy of an agreement and that each of the copies may be treated as original for evidential purposes. Some clauses provide that the agreement only takes effect when one party delivers its signed agreement to the other. If the contract or instrument does not contain a „counterparty clause“, can the parties still perform each other`s contract or instrument? An electronic signature (e-signature) is an electronic sound, symbol or process that is attached to or logically linked to a contract or other record. It is executed (signed) or accepted by a person intending to sign the protocol.

However, there is controversial English case law which indicates that, in certain circumstances, contracts and documents performed virtually may not be enforceable. . . .

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