Is it legal to comply with the request or must it always be refused outright?Alternatively, is there a way of legally trying to achieve the required objective?
Setting out in writing what is agreed prevents disputes as to what the terms of the agreement were – although there may be disputes on how those terms are to be interpreted!
The legal necessity for documentation applies only to certain types of transactions.
In essence, the revision enabled companies to increase executive compensation without informing their shareholders if the compensation was in the form of stock options contracts that would only become valuable if the underlying stock price were to increase at a later time.
In the commercial world there is often a desire for documents to take effect before the date on which they are ultimately signed.
Including a prior date on the document can come back to haunt notaries later down the road.