Of backdating of
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However, he rarely adds that he actually ended up losing that trial, which brings us to my second point – even though the law generally deprecates the backdating of documents, the legal consequences of backdating are highly variable.This article will try to unpick the various legal threads of when you can and cannot backdate documents, and what the consequences will be if you do.
It’s likely that the written contract addresses many more issues than were covered by the oral agreement, making the written contract different from the oral agreement.
For example, if a seller had sold his house in December then the seller could have taken advantage of certain tax benefits.
However, he only realizes this in January and so wishes to backdate the document to December.
ESOs are usually granted at-the-money, i.e., the exercise price of the options is set to equal the market price of the underlying stock on the grant date.
Because the option value is higher if the exercise price is lower, executives prefer to be granted options when the stock price is at its lowest.
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.Legally speaking, this is something that you should not do – or more accurately, there will only ever rarely be occasions when this is appropriate to do.However in practice, for both good reasons and bad, backdating of documents does occur.For obvious reasons, any request to backdate a document for these reasons should be flatly turned down.Backdating is dating any document by a date earlier than the one on which the document was originally drawn up.The event did not happen during the time period required for the benefit so an attempt is being made to pretend that it did.