then draw up the agreement in writing with the legal obligations
spelled out in the event of failure to perform, and then each signs it,
before witnesses and a notary public.
Actually, the vast
majority of written contracts are neither witnessed nor notarized, and even many
that are don't need to be. I'd expect it's particularly rare for contracts
between large businesses to be notarized.
Notaries do two things: take
acknowledgements and administer oaths. Administering an oath is just what it
sounds like--the notary swears someone to the truth of a written statement. An
acknowledgement verifies that the person whose name is in a document is the
person who actually signed it. They're very useful in cases where the identity
of the signer may come into question or dispute, particularly in the long term.
This just doesn't come up as an issue in negotiated business contracts. [ Reply to This | Parent | # ]
|