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Electronic execution: Difference between revisions
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But cue voluminous, [[tedious]] monographs on its legal effectiveness in different jurisdictions and for peculiar contract forms.<ref>The [https://www.lawcom.gov.uk/project/electronic-execution-of-documents/ UK Law Commission], as recently as March 2020, for example.</ref> These are mainly confined to where a local jurisdiction prescribes some arcane ''form'' to the way one enters into a special ''type'' of contract — one relating to the conveyance of real estate, for example, or a [[deed]]. | But cue voluminous, [[tedious]] monographs on its legal effectiveness in different jurisdictions and for peculiar contract forms.<ref>The [https://www.lawcom.gov.uk/project/electronic-execution-of-documents/ UK Law Commission], as recently as March 2020, for example.</ref> These are mainly confined to where a local jurisdiction prescribes some arcane ''form'' to the way one enters into a special ''type'' of contract — one relating to the conveyance of real estate, for example, or a [[deed]]. | ||
So — unless your [[Financial instrument|instrument]] one of those contracts with peculiar formal execution requirements — and most [[confirmation]]s, instructions and even master trading agreements which pass between the operational teams of financial institutions won’t<ref>Exception: anything signed as a [[deed]]: a [[security financial collateral arrangement]], for example, or a [[guarantee]] or a master agreement building a security interest in, such as a [[prime brokerage agreement]]</ref> — it needn’t be that complicated. Generally, digital signatures are fine and, really, ''better'' than handwritten signatures, especially a scanned, emailed [[facsimile]] of a handwritten signature which could easily have been forged. | So — unless your [[Financial instrument|instrument]] one of those contracts with peculiar formal execution requirements — and most [[confirmation]]s, instructions and even master trading agreements which pass between the operational teams of financial institutions won’t<ref>Exception: anything signed as a [[deed]]: a [[security financial collateral arrangement]], for example, or a [[guarantee]] or a master agreement building a security interest in, such as a [[prime brokerage agreement]].</ref> — it needn’t be that complicated. Generally, digital signatures are fine and, really, ''better'' than handwritten signatures, especially a scanned, emailed [[facsimile]] of a handwritten signature which could easily have been forged. | ||
''Any'' signature is simply a means of gathering and recording evidence that your counterparty agreed to your transaction or gave you the instruction that your records say it did. It is an [[audit]] trail. It is [[due diligence]]. You will only need that evidence should your counterparty ''deny'' your [[contract]], or its instruction. The moment it does, or confects a claim that your ''actual'' bargain is different from how you wrote it down on this piece of paper — that is the moment where your counsel, {{jerrold}} pulls out your agreement, slaps it on the registrar’s desk, pointing his spittle-flecked fat little fingers at your adversary’s ''signature''. | ''Any'' signature is simply a means of gathering and recording evidence that your counterparty agreed to your transaction or gave you the instruction that your records say it did. It is an [[audit]] trail. It is [[due diligence]]. You will only need that evidence should your counterparty ''deny'' your [[contract]], or its instruction. The moment it does, or confects a claim that your ''actual'' bargain is different from how you wrote it down on this piece of paper — that is the moment where your counsel, {{jerrold}} pulls out your agreement, slaps it on the registrar’s desk, pointing his spittle-flecked fat little fingers at your adversary’s ''signature''. | ||