Executing documents—deeds and simple contracts

Published by a UU��ֱ�� Commercial expert

Practice notes

In-house COVID-19

Executing documents—deeds and simple contracts

Published by a UU��ֱ�� Commercial expert

Practice notes

In-house COVID-19

This Practice Note summarises the law, guidance and practice relating to the Execution of simple contracts and deeds. It considers the key differences between deeds and simple contracts, the particular transactions for which a deed is required, the execution formalities for deeds and contracts, the requirement for signature, counterparts, dating, smart legal contracts, virtual execution and electronic signatures.

We have produced a toolkit that is a comprehensive, interactive resource to help users identify and work through the concepts and common issues when executing documents. Each section or phase includes practical guidance, precedent clauses and Q&As relevant to that section. For more information, see: Execution toolkit.

Creating contracts

A contract is a legally binding agreement that grants rights and creates duties between two or more parties. There is a vast amount of case law on contract law principles which are not covered in depth here. In the simplest possible terms, contract law principles provide that for a contract to exist, four key elements must be present:

•
an offer must have been made
•
that offer must have been accepted
•
valuable

Jurisdiction(s):

United Kingdom

Key definition:

Execution definition

What does Execution mean?

Execution, in the context of contracts, is the means by which a party enters into a contract or deed by sealing or signing it, and by doing so gives it effect in law. It can be done in some cases by electronic means.

UU��ֱ��