Furthermore, giving the written contract its own date simply reflects the reality of how the contract process unfolded, and it’s always good to have contracts track reality.
If the date of the oral agreement was reached is somehow significant, then mention it in the recitals of the written contract.
Drafting and executing a document after an event occurs, but in a manner that accurately reflects the date on which the event transpired, is a permissible form of backdating.
This is backdating that memorializes, something the United States Court of Appeals for the Seventh Circuit has recognized as a legitimate practice.
This is a fraud on the tax authorities, a criminal offence and is likely to get the lawyer who prepared the document disciplined by his regulator and possibly also charged as a co-conspirator.
The construction was delayed and the Buyer claimed that it was entitled to cancel the shipbuilding contract and claim repayment of the instalments. The Builder disputed the Buyer’s right to cancel the shipbuilding contract and did not repay the instalments.
The Builder also claimed that it was entitled to damages.
It also highlights the risks of backdating shipbuilding contracts.
A Chinese shipyard, Nantong Mingde Heavy Industry Stock Co.