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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.
A contract agreed between the parties is not formally a contract until it is executed as such, typically by a signature, by a company's common seal, with a wafer, or electronically. This is to demonstrate a clear intention to enter the contract and to be bound to it, and so typically this is signed in the presence of another party. Execution can also describe the format, so that execution of a deed is distinct from execution of a contract generally.
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Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack For more general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? Step Details of step Lexis®PSL resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a SIP. The SIP regime is prescriptive and sets out numerous requirements that must be met at the time the awards are granted, including in relation to the company granting the awards. It is essential to establish whether the company whose shares are being granted under award qualifies to operate a SIP first. The proposed award holder(s) must also meet certain requirements in order to be granted SIP awards. For further detailed information on the SIP eligibility requirements relating to the company, see Practice Note: SIPs—qualifying companies and type of shares. For further detailed information on the SIP eligibility requirements relating to the employee, see Practice Note: SIPs—who can be granted an award? For a checklist...
Remote execution of documents resources—checklist Remote execution of documents has become increasingly popular. This Checklist of resources sets out some of the considerations for remote execution of documents when parties are not able to meet in person. Key commercial resources We have produced a collection that is a comprehensive, interactive resource to help users identify and work through the concepts and common issues when executing documents, including information relating to remote execution. Each section or phase includes practical guidance, precedent clauses and Q&As relevant to that section. For more information, see: Execution collection. This Checklist considers remote execution from a general commercial perspective only and assumes that the agreements are subject to English law. For general information and guidance relating to execution, see: Execution—overview. For more specific guidance on execution requirements in other Practice Areas please check that Practice Area’s content. The Law Society has also brought together a variety of established guidance on execution of documents by virtual means, execution of documents using electronic signatures, its ‘Tips on how to operate in...
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Completing a stock transfer form—flowcharts and annotated form These Flowcharts provide guidance on the correct approach to be taken to those sections of a stock transfer form that
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This Practice Note provides practical guidance on how to execute documents properly when one or more parties to a contract are not physically present. This is sometimes known as virtual signing or virtual closing.The Law Society has also brought together a variety of established guidance on execution of documents by virtual means, execution of documents using electronic signatures, its ‘Tips on how to operate in practice’ in relation to virtual execution and the use of e-signatures, and Q&A on how to use electronic signatures and complete virtual executions: Our position on the use of virtual execution and e-signature during the coronavirus (COVID-19) pandemic.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, including when executing documents by virtual means. Each section or phase includes practical guidance, precedent clauses and Q&As relevant to that section. For more information, see: Execution toolkit.Mercury Tax CaseThis guidance is consistent with the Law Society's guidance, made on 16 February 2010...
This Practice Note describes the law of electronic signatures (also known as digital signatures, e-signatures, E-Signatures, eSignatures, paperless signing or electronic document signing). It provides definitions of different types of electronic signature including simple, advanced and qualified electronic signatures and details the technology processes used in the creation of digital signatures (including public key infrastructure (PKI) technology). It considers relevant UK legislation such as the Electronic Communications Act 2000, and the UK eIDAS Regulation, and best practice in executing documents using electronic signatures.An electronic signature is the electronic equivalent of a handwritten signature and links a person to the contents of an electronic document.This Practice Note focuses on the general position under the law of England and Wales regarding commercial contracts in a business to business context. Readers should note that specific issues may arise in particular transactions, for example as a result of laws applicable to consumers.For practical guidance on how to execute documents when one or more of the parties to a contract are not physically present, see...
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Performance bond
Ireland—Deed of assignment and conveyance—unregistered—freehold and leasehold Commencement Section 64(2)(a) of the Land and Conveyancing Law Reform Act 2009 (Ireland) (LCLRA 2009 (IRL)), provides that one of the criteria for establishing if a document is a deed is whether the document is described at its head with the appropriate wording such as ‘Conveyance’, ‘Assignment’, ‘Indenture’, ‘Deed’, etc. Date While it is usual practice to date a deed on the date of completion a deed actually takes effect on the date of its delivery. The concept of delivery means that it is possible for a deed to be valid even if it has not been dated. If a deed is not dated, external evidence is admissible to prove the correct date from which it was intended to operate. Where a date is inserted, it is presumed that this date is the date on which the deed took effect. However, this presumption may be rebutted by evidence to the contrary. See: Browne v Burton (1847) 17 LJQB 49 (not reported by Lexis+® UK). It is good...
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Do the English property and assets of a dissolved overseas company pass to the Crown as bona vacantia? When a company registered in England and Wales is dissolved, all property and rights vested in or held on trust for it (including leasehold property) will be deemed bona vacantia (meaning ‘ownerless property’) at the date of dissolution and will vest in and belong to the Crown (or the Duchy of Lancaster or Duchy of Cornwall, as may be appropriate). The treatment of companies incorporated outside the UK (overseas companies) is dealt with in Part 34 of the Companies Act 2006 (CA 2006), which gives the Secretary of State power to make regulations to impose on overseas companies various registration, reporting and disclosure requirements. The two principal regulations dealing with overseas companies are: • the Overseas Companies Regulations 2009, SI 2009/1801 • the Overseas Companies (Execution of Documents and Registration of Charges) Regulations 2009, SI 2009/1917, as amended by the Overseas Companies (Execution of Documents and Registration of...
When must an order be served on a respondent following a without notice application? In many cases the court will serve the order. Where the applicant is to serve, the precise requirements for serving the order are likely to vary according to the terms of the order granted and any undertakings given by the applicant. In most cases, the order itself will stipulate when it is required to be served by the applicant. There is no specific guidance in the CPR, practice directions, authorities or Court Guides providing a deadline as to when an order made subsequent to a without notice application must be served with the exception of the following: • if dealing with proceedings in the Chancery Division, a court practice note sets out the procedure to be applied but does not stipulate any specific time limits. However, it does state that if the order is picked up from a collection tray at court then the law firm has a responsibility to make sure...
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The Council of the EU has announced its endorsement of the EU Directive aimed at harmonising key aspects of insolvency law across member states. This initiative is designed to align national insolvency regimes, thereby reducing legal divergences that currently deter foreign and cross-border investment. Notably, the Directive introduces a pre-pack mechanism accessible in all member states, enabling the pre-negotiation and swift execution of business sales during insolvency, along with provisions for the automatic transfer of essential executory contracts under controlled safeguards. In addition, the directive mandates the establishment of creditors’ committees in certain cases to enhance creditor participation, with harmonised rules regarding their composition, rights, duties, and liability—with the option for member states to confine this requirement to large enterprises. Further measures agreed in December 2024 include protections for the insolvency estate, clarified directors' duties regarding insolvency proceedings, and strengthened transparency obligations. The Council now intends to negotiate with the European Parliament to finalise these provisions into law.
This week's edition of Dispute Resolution weekly highlights includes: analysis of a number of key DR developments and key judicial decisions including the Civil Procedure Rule Committee minutes of 9 May 2025 and the Court of Appeal decision in Saxon Woods Investments Ltd v Costa (corporate disputes); dates for your diary; details of our most recently published content; and other information of general interest to dispute resolution practitioners.
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