Or a signed original was posted on another part, signed and returned to the other party. As noted above, a signed fax or document scanned and sent by e-mail is often accepted as consideration, unless it is expressly excluded in a contract. But many government agencies like a district writer, for example, do not accept faxes and need an original signed document. 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. » The second explanatory statement, taken from the American Bar Foundation`s Commentaries on the Model Debt Indenture Provisions (p. 590), states: « It is highly desirable to include a counterparty provision to avoid any problems, which signed copies of indentures are the original. » In recent years, more and more people have used electronic signatures (e-signatures) to sign contractors. Counterparty clauses are often used when the parties to an agreement execute separate copies of the agreement. They are mainly used: a counter-clause would generally be for example: « This agreement can be executed in any number of counter-parties, each, when executed and delivered, represents an original double, but all the counterparties combined constitute a single agreement. » 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. This is supported by the case law that a « counterpart » is in itself a separate act which, together with the principal and all the other counterparties, constitutes an act. This means that a document purported to be a valid counterpart must be properly executed by the party, which would probably not be the case if the two signatories signed separate copies. 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. In short, contracts and deeds can usually be signed nearby. The absence of a specific counter-value clause should not affect the validity of an act when an act has been performed in return. Such a clause may, however, help prevent another party from arguing that an agreement is not binding. They could argue that in the absence of a counter-clause, they did not know that they had entered into a binding contract by signing an agreement not signed by the other parties. A (relatively) new issue in contract law is when an electronic signature functions as an ordinary paper letter signature to attach it to an agreement. Examples of electronic signatures are the entry of your own name at the end of an email, the click of a « I agree » button, or the entry of your name or code, password or PIN in a field in an electronic form. Electronic signatures must be taken into account with respect to a counterparty clause, since these signatures are generally used for agreements signed by parties who are not in the same place and who each sign electronic « copies » of the same agreement. If you sign a private contract between two parties, you can agree on the types of acceptable signatures.
Make this contract in writing so that you can bring it to justice if necessary. If your contract or agreement is to be registered with a court, you will probably need to have original signed documents as consideration. Nowadays, copies of signed contracts (scanned or not) are in any case as good as an original signed contract.