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edits
Deed: Difference between revisions
→Signed, Sealed, Delivered - I'm yours
Amwelladmin (talk | contribs) (Created page with "a contract which is enforceable even in the absence of consideration or acceptance. There are additional formal requirements for it to be executed - it needs to be delivered. ...") |
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===Signed, Sealed, Delivered - I'm yours=== | ===Signed, Sealed, Delivered - I'm yours=== | ||
====When is a deed delivered?==== | |||
Historically, [[delivery]] occurred when the document was received by the other side. As the law evolved, the concept of delivery became the point at which it could be shown that it was intended that the document would become binding. This is still the test used today. | Historically, [[delivery]] occurred when the document was received by the other side. As the law evolved, the concept of delivery became the point at which it could be shown that it was intended that the document would become binding. This is still the test used today. | ||
For companies, a deed is deemed to have been delivered in accordance with the provisions of the 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. However, no deemed delivery provisions apply to individuals. | ||
====Bibby v Magson==== | |||
''Bibby Financial Services Ltd v Magson [2011] EWHC 2495'' | |||
Bibby Financial Services Ltd (Bibby) offered an invoice discounting facility to a company and, as security for amounts due to Bibby, two directors of the company were required to enter into personal guarantees and warranties in respect of sums due. | Bibby Financial Services Ltd (Bibby) offered an invoice discounting facility to a company and, as security for amounts due to Bibby, two directors of the company were required to enter into personal guarantees and warranties in respect of sums due. | ||