Commercial Leases · glossary
A document signed with special formality, which takes effect only when it is delivered. A ten-year lease must be a deed. A company signs one by two directors, by a director and the secretary, or by one director with a witness (section 44 of the Companies Act 2006). Lease, Execution · Chapter 10 · see Counterpart
Explained in Chapter 10, Completion, Registration and the File, of Commercial Leases.
The main page for this term is Deed, in M&A Foundations.
A ten-year lease must be made as a deed (a document signed with special formality). Each company signs its part in advance, and the solicitors hold the signed parts undated. At completion the two solicitors agree by telephone to date the parts, and from that moment both companies are bound for ten years.Read Chapter 10, Completion, Registration and the File →
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