Effect of backdating adult singles dating dixfield maine

Posted by / 18-Jul-2017 19:07

Effect of backdating

If the parties to an agreement governed by Cayman Islands law would like the agreement to take effect from a date earlier than the date upon which the agreement was signed and entered into, the parties should expressly state in the document that it is intended to be effective from a date earlier than the date on which the parties entered into the agreement.

One of the thornier issues which comes up in legal practice from time to time is the backdating of documents.

For example, if a seller had sold his house in December then the seller could have taken advantage of certain tax benefits.

However, he only realizes this in January and so wishes to backdate the document to December.

The obligations to third parties will almost invariably be based on the date that the contract or agreement was fully executed subject to any applicable special circumstances.

It is worth noting that whilst parties signing a contract or agreement may expressly state that the contract or agreement is effective from a date in the past, the parties should not "back-date" the date of execution (for example, sign the contract or agreement today and but insert an earlier date as the date of the document, thereby making it seem as if it was signed on some earlier date).

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Stating that the contract or agreement will be effective from an earlier "effective date" will, however, only be effective as between or among the parties to the contract or agreement.

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