Agreement under Seal

Agreement Under Seal: What You Need to Know

An agreement under seal, also known as a contract under seal, is a legal agreement that has been signed with a seal or a mark that represents the signature of the signer. This type of agreement is considered to be more formal and binding than a regular contract.

In the past, agreements under seal were common and required an actual physical seal, such as a wax seal, to be placed on the document. These days, a simple stamp or electronic signature can also represent the seal.

One of the main advantages of an agreement under seal is that it has a longer statute of limitations and can be enforced for up to 20 years. This is because it is considered to be a more formal and serious contract that requires more care and attention to detail.

Another advantage of an agreement under seal is that it requires consideration, meaning that both parties must agree to something of value in order for the contract to be enforceable. This can be contrasted with a standard contract, which can be based on promises alone.

However, there are also some disadvantages to consider when using an agreement under seal. One of the main disadvantages is that it is more difficult to amend or modify than a standard contract. This is because it is considered to be a more formal and binding agreement that requires more careful consideration before making any changes.

Another disadvantage of an agreement under seal is that it can be more complicated to draft than a standard contract. This is because it requires more care and attention to detail in order to ensure that all necessary elements are included and that the contract is enforceable.

Finally, it is important to note that not all agreements need to be under seal. In fact, many contracts can be enforceable without a seal or mark. However, if you want to ensure that your agreement is as formal and binding as possible, an agreement under seal may be the best option.

In conclusion, an agreement under seal can be a powerful tool for formalizing a legal agreement. While it does have some disadvantages, it is important to weigh these against the advantages in order to determine whether it is the right choice for your specific situation. If you are unsure whether an agreement under seal is right for you, it may be a good idea to consult with a legal expert who can provide guidance based on your particular circumstances.