Although it has been used in the past, most agreements no longer need it. If the contract or instrument does not contain a “counterparty clause”, can the parties still perform each other`s contract or instrument? There is no clear agreement on this point. Most lawyers will therefore err on the side of caution and say that if two directors (or another combination of two authorized signatories) sign a document on behalf of a company, they must sign the same copy of that document. The section of the Companies Act, which deals with enforcement, refers to the execution of a document, Singular. . . .
Posted on 2021-09-10 by death