Post dating legal sinatures
For example, if a contract is signed in counterparts, the parties could potentially execute it on completely different dates.In this scenario, using what is known as an "as of" formula might be appropriate.There are some potential pitfalls when you enter into a contract with a vendor or client, especially if you have a contract with no end date_._ While the contract is likely valid, it must detail enough information to outline the agreement and must include the signatures of all parties involved.Regardless of whether or not there is a contract expiration date, there are three elements that must be present for a contract to be legally binding: offer, acceptance and consideration.It is common for there to be days or weeks between agreeing to commercial terms and the official contract execution date.
This is true because of the fact that most business and legal documents take some time to come together, requiring drafts and negotiation before finally being executed.
Backdating contracts is a somewhat common practice.
However, backdating a contract should not be done lightly because it easily can be considered a criminal offense that carries quite hefty consequences.
In terms of private contracts, backdating isn't normally illegal.
Where issues of legality come into play is when the parties involved in a contract, or their legal counsel, make use of backdated documents.