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Backdating contracts uk daily mail

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He was acquitted in Further information on this story appears in a Los Angeles Times news report here. IP Draughts is unfamiliar with the French law on backdating documents, but can provide some insight into English law in this area.

Section 1 of the Forgery and Counterfeiting Act provides:. Accordingly, mis-dating a contract could amount to an offence under this Act. Contracts drafted by English lawyers typically include a date in the first line. This is usually introduced by wording such as:.

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Best practice among English solicitors is not to type this date in the agreement prior to signature, but rather to write the date in by hand once all parties have signed.

More often than not, in our experience, when parties type the date in ahead of signature, one or both parties fails to sign on the typed date.

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Although it is probably rare that a criminal forgery is committed in these circumstance it is not a strict liability offence, so criminal intent must be presentit is not something that most of us want to risk. There is usually no problem with making the contract effective from an earlier date.

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The best way of doing this is to have a defined term such as Commencement Date or Effective Date, and to state in the body of the contract that the contract take Backdating contracts uk daily mail effect from that date.

Filed under Contract drafting. Taxes payable may depend on capital gains realized in a period. When used, it should be marked as a reference date: The drafter using this device must specify the effective point of the contract some other way, or leave it unstated.

In principle, I agree with all of these comments. The lawyers advising may be held to a higher standard. Reblogged this on IP Draughts and commented:.

So there is another reason for Backdating contracts uk daily mail misdating contracts! As the last article of the contract, just above the signatures I include:. This agreement constitutes only an offer until executed by the last party to sign. The parties are nevertheless signing this agreement to take effect from the date stated in the introductory clause. I disfavor the dating of signatures, not least because the omission of a date is not uncommon even on an otherwise fully-executed contract.

Furthermore, the inclusion of a date in the introductory clause and dates of signature is, at best, confusing. Finally, with a clear statement of when the agreement is to take effect, the dates of signing become largely if not entirely redundant, and I loathe redundant material in my contracts.

I find that a blank date at the top of a contract causes problems. In a recent 3-party contract, the signed copies were distributed with no date inserted at the top causing us to go back and get agreement on the date.

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My current practice is to use dates at the signature line with a clause that it takes effect when the last party signs. If it is to take effect as of a certain date, I add a furtehr clasue to say that.

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Disabling cookies should not prevent you from accessing this site, but may prevent you from being able to leave comments. Home Articles, papers, policy Books Courses Legal services. Section 1 of the Forgery and Counterfeiting Act provides: This is usually introduced by wording such as: Reblogged this on IP Draughts and commented: As the last article of the contract, just above the signatures I include: Leave Backdating contracts uk daily mail Reply Cancel reply Enter your comment here Please log in using one of these methods to post your comment: Email required Address never made public.

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The risks of backdating (or misdating) documents accidentally is fact first issued by the post office some four months after the date stated on the face in the British Virgin Islands see section of the Criminal Code ). When documents are backdated to gain a tax benefit, it's almost always fraudulent, Subscribe to MarketWatch's free Europe Daily newsletter.

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