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Mihir Panchmatiya (AVP)     01 December 2009

Date of Execution of Agreement

Dear All;

 

In case an agreement is executed by 1st party at Mumbai on 22nd Sep. and by the second party at Delhi on Sep. 30, 2009. What would be the date and place of Execution.

Also send me some back up for the same, if possible

 



Learning

 7 Replies

tanmay (lawyer)     01 December 2009

the question is not very clear... please clearify the question..

Theja (Lawyer)     01 December 2009

The later of the signature date shall be considered as the execution date.

Theja (Lawyer)     01 December 2009

The later of the signature date which is  30 Sep, 2009, shall be considered the execution date.

Mihir Panchmatiya (AVP)     02 December 2009

Dear,

 

Can you please substantiate your answer ???

Theja (Lawyer)     02 December 2009

Okay, in accordance with Contract Law, Sec. 10 provides for conditions to be complied for an agreement to be enforceable. They are: i) Legal object; ii) Legal consideration; iii) Competent Partie;s iv) Free consent and v) the agreement shall not be expressly declared to be void under the Act. So, one of such conditions is 'free consent'. While entering into an agreement, each of the parties convey his/her consent upon execution of the Agreement. So, until all the parties to the Agreement have put their signature to the Agreement conveying their consent the Agreement can not be considered to be fully executed. 

In the situation so described by you, the Agreement has been initially executed by a party on  22 Sep, and later the other party has executed it on 30 Sep, 2009. As the execution is complete only when both parties have conveyed their consent by execution. So the other party has executed the Agreement on 30 Sep,2009, whereby the execution becomes complete. Hence, the date of execution shall be 30 Sep, 2009.

I hope this is helpful.

1 Like

N RAMESH. (Advocate Chennai. Formerly Civil Judge. Mobile.09444261613)     02 December 2009

//In case an agreement is executed by 1st party at Mumbai on 22nd Sep. and by the second party at Delhi on Sep. 30, 2009. What would be the date and place of Execution.//

I suppose, you question is which is the place of conclusion of contract and what is the date the contract comes into existence? right?  because your question carries the answer for date and place of execution.

Unless both the parties sign, it is not an agreement. As soon as the 2nd party signed the deed, it becomes an agreement. The completion took place at Delhi on srp.30, 2009. So, the contract is concluded at Delhi on sep,30 2009. The place of conclusion of contract is relevant for jurisdiction of courts.

The relevant procision is section 4 of indian contract Act.

 

  .

1 Like

Mihir Panchmatiya (AVP)     03 December 2009

Thnx for your replies.

 

Actually my concern is of Stamp Duty ??? Can you tell me in which state do we require to pay the stamp duty as applicable on an agreement we are entering into ??? or can we pay the stamp duty applicable in any of both states, which is beneficial to the company ???


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