This Practice Note provides practical guidance on proper execution of simple contracts and deeds by liquidators.
A liquidation may be either:
- •
insolvent (where a company is unable to pay its debts or its liabilities are greater than its assets), or
- •
solvent
It can be commenced by court order (compulsory liquidation) or out of court (voluntary liquidation). For information relating to the different forms of liquidation, see:
- •
Compulsory liquidation—overview
- •
Creditors' voluntary liquidation (CVL)—overview
- •
Members' voluntary liquidation (MVL)—overview
Quick view
The table below provides a brief overview of the execution formalities applicable to liquidators and where related precedent execution clauses can be found. For further information, navigate to the document type using the links in the first column.
| Document type | Can be made: | Document can be executed by: | Precedents |
| Simple contracts | By the company.See: section 43(1)(a) of the Companies Act 2006 (CA 2006). | Under the common seal of the company applied by the liquidator.See: paragraph 7 of Schedule 4 to the Insolvency Act 1986 (IA 1986). | Execution clause—liquidator—contract (Option 2). |
| By signature of the liquidator |
Access this content for free with a 7 day trial of LexisNexis and benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 42 practice areas
Get your quote today and take step closer to being able to benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 36 practice areas
Get a LexisNexis quote
* denotes a required field
To view the latest version of this document and thousands of others like it,
sign-in with LexisNexis or register for a free trial.
Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Execution definition
What does Execution mean?
Execution, in the context of contracts, is the means by which a party enters into a contract or deed by sealing or signing it, and by doing so gives it effect in law. It can be done in some cases by electronic means.
CONTACT US
