Question

Signing of the contract by the two parties is

A) recorded at the time the contract is approved by both parties.
B) not recorded until both parties perform under the contract.
C) not recorded until one or both parties perform under the contract.
D) recorded immediately after the contract is signed.

Answer 1

The signing of a contract by two parties is recorded immediately after the contract is signed, which signifies that both parties have agreed to the contractual terms and are legally bound by them.The correct option is D.

Step-by-step explanation:

The signing of a contract by two parties is typically recorded immediately after the contract is signed. This formalizes the agreement and signifies that both parties have agreed to the terms of the contract. The contracts are not contingent on the performance of the parties unless specified otherwise within the contract itself. Once signed, a contract is considered to be in effect, and both parties are expected to fulfill their respective obligations as outlined in the contractual terms. In some cases, a contract might specify conditions or 'performance clauses' that can impact the effective date or enforceability of the agreement, but generally, the signing itself is what legally binds the parties.