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Documents are most commonly executed as simple contracts. A contract is made binding on the date that both parties intend that it is to come into effect, which is typically evidenced by both parties signing the agreement. There is no requirement for the signature to be witnessed.
The executed agreement creates a contractual relationship between two or more parties and each must now fulfill the legal obligations they agreed upon in the written agreement. Others may use the term executed contract to refer to one that has not only been signed, but has also been completed.
If a contract begins on the date all parties sign it, that is a conditional effective date. The execution date is the day both parties have signed the contract. Its when both parties agree to the contracts terms and conditions.
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Simple contracts and deeds are often executed in counterparts. This means that each party to the contract will sign separate but identical copies of the same document. The signed copies will together form a single binding agreement.
A counterparts clause allows the parties to a real estate transaction to sign separate copies of an agreement at separate times and in separate locations. Each individual signed copy of the agreement is considered one counterpart.
In order to speed up the process of signing a document, the document may be signed in counterpart. This is where a copy of the document is produced for each party signing. The parties then each sign one of the copies rather than all of them, which, when brought together, form a complete executed document.
A way of executing a document that is intended to have legal effect between two or more parties, which involves each party signing their own separate copy of the document and then exchanging their signed copy for the copy that has been signed by the other party.
An approach to executing a document that is intended to have legal effect between two or more parties, that involves each party signing a separate (but identical) copy of the document and then exchanging their signed document for the one that has been signed by the other party.

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