Ireland—Executing simple contracts and deeds


Published by a Lexis+ Ireland - Commercial expert
Practice notes

Ireland—Executing simple contracts and deeds


Published by a Lexis+ Ireland - Commercial expert

Practice notes
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This Practice Note summarises the law, guidance and practice relating to the execution of simple contracts and deeds in Ireland. It includes an outline of the key differences between simple contracts and deeds and the requirements for execution. It also considers counterparts and virtual closings, electronic signatures powers of attorney, deed of variation, Irish Collective Asset-management Vehicles (IVACs) and property transactions.

Creating a contract

A contract is a legally enforceable agreement that grants rights and creates obligations between two or more parties.

In essence, there are four key requirements that must be satisfied before a contract is formed:

  1. •

    an offer must have been made

  2. •

    that offer must have been accepted

  3. •

    valuable consideration must be given for the contract performance, and

  4. •

    the parties must intend to be legally bound

Contracts can be:

  1. •

    oral

  2. •

    written

  3. •

    a mixture of oral and written, or

  4. •

    by deed

The general rule is that contracts do not have to be in writing to be enforceable. As an exception to the general rule, there are statutory

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Jurisdiction(s):
Ireland
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