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*'''No [[consideration]]''': At [[common law]]<ref>''Halsbury’s Laws of England'' (2012) vol 32 ''Deeds and other Instruments'' para 213.</ref> any legally binding agreement for which one party does not provide [[consideration]]. | *'''No [[consideration]]''': At [[common law]]<ref>''Halsbury’s Laws of England'' (2012) vol 32 ''Deeds and other Instruments'' para 213.</ref> any legally binding agreement for which one party does not provide [[consideration]]. | ||
===Signed, Sealed, [[Deliver|Delivered]] - | ===Signed, Sealed, [[Deliver|Delivered]] - I’m yours=== | ||
Is a Stevie Wonder song which correctly, if figuratively, uses legal concept. More about that [[Signed, Sealed, Delivered|here]]. | Is a Stevie Wonder song which correctly, if figuratively, uses legal concept. More about that [[Signed, Sealed, Delivered|here]]. | ||
====When is a deed [[deliver|delivered]]?==== | ====When is a deed [[deliver|delivered]]?==== | ||
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For companies, a [[deed]] is deemed to have been [[delivered]] in accordance with the provisions of the [[Companies Act 2006 (UK)|Companies Act]]. However, no [[deemed]] delivery provisions apply to individuals. | For companies, a [[deed]] is deemed to have been [[delivered]] in accordance with the provisions of the [[Companies Act 2006 (UK)|Companies Act]]. However, no [[deemed]] delivery provisions apply to individuals. | ||
===Switching pages, escrow and all that=== | |||
Market convention on big deals is for parties to execute pages ahead of finalising — this is so the principals can be loafing around on their yachts off the coast of Monte Carlo while their legal eagles are chained to their desks on a piping hot Friday afternoon, evening, yea unto the small hours of Saturday morning — but one can be too cavalier about this, especially where deeds are involved so be careful. The modern morality tale in that regard is {{casenote|Mercury Tax Group Limited|HMRC}} — this involves tax dodging, so take with some pinch of salt, but basically you can’t just staple executed signature pages from earlier drafts of the docs to the finalised ones and expect to get away with it. Who executed ''draft'' versions of legal documents? Search me — well, tax dodgers apparently do — but still. | |||
===[[JC]]’s View=== | |||
The legal community wags its prudish finger and admonishes the layperson about the timely warning this case represents that one must get one’s paper work right (subtext: ''make sure you call a [[Mediocre lawyer|lawyer]]''). But on its face this is a poor decision. Clearly the directors' intentions in manuscripting the changes and then executing the document evidences that they intended the documents to be binding. But ambulance chasing — or perhaps ambulance ''defending'' — members of the legal community see this as a good decision. [[Eheu]]. | |||
The legal community wags its | |||
{{sa}} | {{sa}} | ||
*{{casenote|Bibby Financial Services Ltd|Magson}} | |||
*{{casenote|Mercury Tax Group Limited|HMRC}} | |||
*[https://www.lawcom.gov.uk/project/electronic-execution-of-documents Law commission consultation on electronic execution] has a good overview of the existing law relating to deeds. | *[https://www.lawcom.gov.uk/project/electronic-execution-of-documents Law commission consultation on electronic execution] has a good overview of the existing law relating to deeds. | ||
*[[Signed, Sealed, Delivered]] - Stevie Wonder’s paean to legal formalities of [[deed]] [[execution]] | *[[Signed, Sealed, Delivered]] - Stevie Wonder’s paean to legal formalities of [[deed]] [[execution]] | ||
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{{c3|Deeds|Enforcement|Case Note}} | {{c3|Deeds|Enforcement|Case Note}} | ||
{{ref}} | |||