Agreement Is Executed Meaning
The document or contract may be drawn up by two or more persons, one person and one entity or two or more entities. Contracts generally define a party`s obligations with respect to goods or services vis-à-vis another party and are effective only when each party has signed the agreement. For some contracts, signatures must be attested. However, the contract does not specify how long it will take for the service to be fully performed. There is only the date of signature and the date of execution. Mr. Fergusson`s lawyer verified the agreement and concluded that it was an executed contract, since both parties signed and agreed to it. It also noted that the date of implementation was 28 January and the date of entry into force was 1 February. Since the contract does not specify when the service will be completed, Mr Fergusson`s complaint has no legal basis. This means that he has to wait until the service can be completed. It is important to understand that in both cases, once a contract has been signed by all parties, it becomes legal and binding.
A contract would have been performed when both parties have fulfilled their obligations….