Backdating contract illegal
For example, if parties clearly reach an agreement on Dec.31, 2009, but do not execute a contract formalizing their agreement until Jan.3, 2010, the contract may be dated as of Dec. This is simply the accurate memorialization of a past event, something that is essential to legal practice.) The judge noted that the CFO had an otherwise-exemplary record.If the new, stiffer penalties of the post-Enron sentencing guidelines had applied, however, the CFO likely would have faced more than 10 years in prison. 8, 2003; see archived story.) But backdating a contract is not necessarily illegal, depending on the circumstances.The date of a document is normally the date from which the parties have agreed to be bound.As such, it should reflect accurately the date on which the parties signed it, or if signing on different dates, the date the last signature was added.
It’s likely that the written contract addresses many more issues than were covered by the oral agreement, making the written contract different from the oral agreement.
An individual can sign a contract on behalf of a company if that person: The contract should be dated on the date that the last party to the contract signs it.
Parties often forget to date the contract and depending on the nature of the document this can cause issues for the parties later on.
For one reason or another, professional appointments do not always get signed straightaway and time can lapse from when the work commenced to when the appointment was signed.
Consultants will often ask - can we backdate the appointment?