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Courts have certainly been willing to hold that a contract exists before a written contract has been finalized. But I’d still use as the date for a written contract the date it was signed.It’s likely that the written contract addresses many more issues than were covered by the oral agreement, making the written contract different from the oral agreement.Furthermore, giving the written contract its own date simply reflects the reality of how the contract process unfolded, and it’s always good to have contracts track reality.If the date of the oral agreement was reached is somehow significant, then mention it in the recitals of the written contract.In the commercial world there is often a desire for documents to take effect before the date on which they are ultimately signed.Typically this is where parties have reached an agreement and must wait while their solicitors properly document that agreement.
Presented to the Traffic Control Devices Session, 30th Annual Human Factors Workshop, Transportation Research Board, Washington, D. Presented at the Texas Section of the Institute of Transportation Engineers Section Meeting, Texas Section of the Institute of Transportation Engineers, Waco, Texas, January 1993.
You are welcome to use these slides in any presentations you wish, I ask only that you attribute the slides or the entire presentation to me and that you include the slide that references the additional information that is available on this web page.
Drafting and executing a document after an event occurs, but in a manner that accurately reflects the date on which the event transpired, is a permissible form of backdating.
This is backdating that memorializes, something the United States Court of Appeals for the Seventh Circuit has recognized as a legitimate practice.
For example, if parties clearly reach an agreement on Dec.
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31, 2009, but do not execute a contract formalizing their agreement until Jan.3, 2010, the contract may be dated as of Dec. This is simply the accurate memorialization of a past event, something that is essential to legal practice.