From concept to completion: contract execution — some basic rules
For a contract to be valid, binding and enforceable, it needs to be executed correctly. This article provides a short refresher on contract execution by companies. While execution is a seemingly simple process, if the basic rules are not followed, it can potentially undo the intended result of weeks or months of negotiations.
The most straightforward way of validly executing an agreement or deed as a company is to execute in accordance with Section 127 of the Corporations Act 2001 (Cth). Section 127 provides statutory methods by which a company may validly execute a document…
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Principals and contractors need to be aware that in not registering security interests under the PPSA 2009, they may risk serious consequences.
The New Companies Ordinance (NCO) will come into effect on 3 March 2014. It includes changes that affect the way documents may be executed.
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