The following Commercial Q&A Produced in partnership with Lynne Counsell of 9 Stone Buildings provides comprehensive and up to date legal information covering:
There are only two forms of contract—deeds and simple contracts. See Practice Note: Executing documents—deeds and simple contracts.
A deed is a contract executed under seal, signed by the parties and witnessed.
A simple contract can be oral or in writing. Contracts other than deeds are analysed in terms of offer, acceptance and the intention to create legally binding relations. See: Formation and interpretation—overview.
There are three fundamental differences between deeds and simple contracts:
unlike a simple contract, certain formalities are required for a deed as set out in section 1 of the Law of Property (Miscellaneous Provisions) Act 1989 (LP(MP)A 1989)
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