Date the contract was signed
- Buying an apartment in Israel
- Contract Structure
At the top of each contract will be the date on which the contract of sale was signed. The date is important internally, that is towards the parties to the contract, and also important externally, towards the authorities and third parties involved in the contract indirectly.
The date at the top of the contract is not a technical matter.
Important decisions related to the transaction are derived from it.
The first section of the Contracts Act simply states that “a contract is entered into by way of offer and acceptance.” It takes effect after the seller and buyer sign it. If the seller signed on Sunday and the buyer on Monday, then the contract was signed or went into effect on Monday.
The importance of setting the date was known for the purpose of calculating the performance of actions under the contract. If the contract of sale stipulates that the seller must perform an action ‘within thirty days from the date of signing the contract’, then it is important to indicate at the top of the contract the legally correct date on which the ‘contract’ was concluded.