The short answer is usually no: as a general rule, commercial contracts do not have to be notarized or certified to be legally binding. In general, a contract between companies does not need a witness. However, having a witness can be a good idea to avoid unnecessary quarrels. In addition, testimony can be particularly important if you or the person with whom you sign a contract is an individual contractor. For the above reasons, a witness is a condition if a person performs an act or if a company or LLP performs an act through a single signatory. In any case, you need to look at the specific laws to see what they require. For example, sales contracts should not be signed by witnesses. Since this would only apply to written contracts, a notarized contract could be particularly important for agreements that must be concluded in writing. These include real estate sales, wills, debt contracts and real estate rentals for more than one year. Notaries perform an important function by verifying the identity of a person who signs an agreement and certifying that person`s signature. Certification can prove that a party who refuses the agreement is in fact the person who signed the contract. An innovation agreement is often inse with the ineables, as it requires the ceding parties to find the other party and obtain its approval and signature.
For example, insurance companies do not want to go out and out and sign novation contracts with anyone who wants to transfer a policy one day. Instead, they accept notification of the agreement, provided the transfer document is a document. A “deed of surrender” must therefore assign either real estate or a chosen deed if the use of a deed is generally accepted and has become commonplace. Having a notary if this type of contract is signed is not necessary for the contract itself to be legal, but it can be useful if the contract is ever challenged in court. A legal document is governed by the law of the jurisdiction in which the parties` actions are carried out. Normally, this is the place where the property or service is located or executed. In certain circumstances, the parties must choose between several applicable legal orders. If the legislation is similar, the choice of jurisdiction cannot make any difference, but in some cases there may be advantages in choosing one jurisdiction over another. If you are unsure of the best way to enforce the law in your circumstances or if you need specific advice, we advise you to contact a local lawyer.