A contract executed as a deed 12 years ago can still be enforceable today. The use of a deed in contract execution is a legal mechanism that provides a more secure and binding agreement between parties.
When a contract is executed as a deed, it means that one or more parties have signed the document in the presence of a witness and/or a notary public. This requirement ensures that the parties have fully understood the terms of the contract and have agreed to them without any undue influence or coercion.
One of the benefits of executing a contract as a deed is that it has a longer legal statute of limitations than a simple contract. A simple contract has a statute of limitations of six years from the date of breach, whereas a deed has a statute of limitations of 12 years from the date of execution.
This longer period provides more security for parties who want to ensure that the contract remains enforceable for a longer period. This can be particularly relevant in situations where the contract involves long-term obligations, such as a lease or a mortgage.
However, it is important to note that the enforceability of a contract executed as a deed depends on a number of factors. For example, if the contract contains illegal provisions, such as a clause that goes against public policy, then the entire contract may be void.
Additionally, if the contract is subject to any changes, amendments, or alterations, then it may lose its status as a deed. This is because a deed must be executed in its original form and any changes are likely to affect its validity.
In conclusion, a contract executed as a deed 12 years ago can still be enforceable today. However, parties should be aware of the legal requirements and limitations surrounding the use of deeds in contract execution. It is always advisable to seek legal advice to ensure that any documentation is executed and maintained properly.