During the process of a transaction, it may be necessary to sign documents in a counter-piece. A signed original copy of any legal document is always an acceptable consideration. In some cases, the signature may be signed in the presence of a notary or verified by an identifier. A counterparty clause expressly states that the parties agree to receive only a copy signed by the other party. Receiving a copy signed by the party is the acceptance of the offer made by the written contract. There are two main reasons for this clause. “The first is that the counter-clause makes it clear that each party does not need to sign the same copy of the document in order to have a legally enforceable agreement.” Some practitioners believe that an enforcement clause requiring the signature of two approved signatories can be signed in return. On this point, however, the legal authority is lacking and it is not the preferred opinion. If you are wondering about the legality of an electronic signature in a particular contract, look first at the contract and the counterparty clause.
If you are still unsure, speak to a lawyer. The absence of a counter-clause does not in itself invalidate any agreement that the parties execute through separate counterparties. However, a counter-clause may help prevent a party from arguing that an agreement is not binding because there is not a copy signed by all parties or because they did not know that they are entering into a binding contract by signing an agreement that was not signed by the other parties. Counter-parties are generally used when contract signatories are in different locations and contracts should include clauses allowing the use of intercom points. This clause generally states that each correspondence, signed, “must be considered original” and that all the considerations combined are a document. The clause allows the agreement to be executed in several identical copies, so that the parties can sign the document at different locations. However, it requires that the documents be identical; and the execution of a signature page does not constitute an agreement between the parties. Counterparty clauses are often used when the parties to an agreement execute separate copies of the agreement. They are mainly used: Or, a signed original was posted on another part, signed and returned to the other party. In the law, a pendant is a double document. The term “counterparty” is used in legal documents to describe a copy of a signed contract, considered legally binding, just like the original.
In many cases, multiple copies of a contract document are produced, allowing all parties and signatories to obtain a copy of the contract. In recent years, more and more people have used electronic signatures (e-signatures) to sign contractors.