Agreement That Was Signed
Parties do not necessarily have to sign the same copy of the contract for it to be binding. If the parties sign different copies of the contract, they must agree that each of their signature pages constitutes a complete agreement executed. For this reason, contracts often contain a provision stating that « the parties can perform this contract in return, each being considered original, and all are only an agreement. » You negotiated an important deal, you reduced it to a written contract, and now you are ready to sign on the polka dot line. Most people think that signing a contract is just a formality. However, it is important not to close the guard at this stage. Whether you sign the contract correctly can mean the difference between a company in good business or a chaotic legal process. It is important, in the signed agreements, to be very detailed about what is allowed and what is not, and not to be entirely dependent on the common law. If an agreement is illegal, it is unenforceable. If an agreement is too broad, the contract can also be permanently cancelled. Since uncertainty of any agreement is possible, only then will you be able to understand whether an agreement is applicable or not after a court. If the treaty has passed a number of rounds of negotiations or revisions, don`t just think that the copy that will be submitted to you for signature is what you think. Before you sign it, make sure you know and fully understand the terms of the document. Under Michigan law, you are usually bound by a contract you sign, even if you don`t know the contents.
Unless you are able to prove that the other party committed fraud or other misconduct in the preparation of the contract, or you do not sign it, you must comply. The best way to do this is to include changes in the version of the contract. This will help ensure that there is no misunderstanding about what the parties wanted to sign. However, if it is not possible to revise and reprint a contract before it is signed, make sure that any changes made by the contract are initiated by each party. Why is it so important? Since the correct signature on behalf of a company prevents subsequent claims that the person signing the contract is personally responsible for the company`s contractual obligations. Each party should receive a signed original copy of the contract for its files. In other words, if there are two parties, two identical contracts must be signed. An original copy of the contract should be sent to you, and an original copy should be sent to the other party. Ensure that both parties sign the agreement and that the document is recognized by two witnesses or a notary for both parties who rely on the document to verify their credibility. A signed agreement is a signature on a piece of paper and is a powerful piece of legal evidence between two parties. Reading 3 min This may seem like a base (and that`s it!), but you`d be surprised how often this passes in the hustle and bustle of progress with business.