Contract under Seal Example

When it comes to legal documents, it`s essential to ensure that everything is done correctly. One type of agreement that you may come across is a “contract under seal.” But what exactly is this type of contract, and how does it differ from a standard agreement?

A contract under seal is a formal agreement that is signed and sealed by the parties involved. The seal can take the form of a wax seal, an embossed stamp or a sticker. This type of contract is also known as a “deed,” and it carries more weight than a standard agreement.

In the past, contracts under seal were more common than they are today. They were used for important transactions such as property sales, loans, and other financial agreements. However, in modern times, contracts under seal are less frequently used. Instead, standard agreements are typically used for most business transactions.

Despite this, there are still times when a contract under seal may be necessary. For example, in some countries, certain types of legal agreements must be executed under seal to be valid. Additionally, some businesses and organizations still prefer to use contracts under seal for certain transactions.

Here`s an example of a contract under seal:

THIS AGREEMENT made and executed on the _____ day of _______ 20__ by and between [Name of Party 1], a corporation organized and existing under the laws of [State/Province], with its principal place of business at [Address], hereinafter referred to as “Party 1,” and [Name of Party 2], a corporation organized and existing under the laws of [State/Province], with its principal place of business at [Address], hereinafter referred to as “Party 2.”

WHEREAS, Party 1 desires to engage the services of Party 2 for the provision of certain services, and Party 2 desires to provide such services to Party 1;

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. Scope of Services. Party 2 agrees to provide to Party 1 the services described in Exhibit A attached hereto and incorporated herein by reference.

2. Term. The term of this Agreement shall commence on the Effective Date and shall continue until [Date], unless earlier terminated as provided herein.

3. Payment. Party 1 shall pay Party 2 for the services provided hereunder in accordance with the provisions of Exhibit A.

4. Termination. Either party may terminate this Agreement upon [Number] days` written notice to the other party.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

[Signature of Party 1] [Signature of Party 2]

[Printed Name and Title] [Printed Name and Title]

[Corporate Seal] [Corporate Seal]

As you can see from the example, a contract under seal includes the signatures of the parties and the corporate seals. It`s important to note that a contract under seal is a legally binding document and should only be entered into after careful consideration by all parties involved.

In conclusion, while contracts under seal are less common today, they still have their place in the legal world. If you`re considering using a contract under seal for your business transaction, it`s important to consult with a legal professional to ensure that everything is done correctly.

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