28 May 2010
Please explain me the requiremets of witnessing an agreement. Can a person having blood relation with other person, witness on other person's documets. Again an employee of a broker who has done "IN PERSON VERIFICATION" of the client, can withess on behalf of the client.
28 May 2010
Why Witness.. is to certify and state that the signature was done in his presence by the person mentioned in the agreement..an authenticity of the person signing
Any person eligible to enter into an agreement can witness. Blood relation or no blood relation is of no importance.
No one can witness for someone .. you can not delegate the power to witness .. witness has to be by the person ownself .. and can be for anyone ..
28 May 2010
Yes this query came to my mind as once while transfering the shares of my dad i had witnessed on behalf of my father and the share transfer agent refused to aknowledge the witness.
Again INPERSON VERIFICATION is done to check the authencity of the client and to safeguard the interest of the broker and the exchange.
Now if the person doing IPV is the witness then whom the broker will ask for in case of default/fraud by the client.
CAclubindia
