Regarding Signing of Agreements

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swarna lalitha (Querist)
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17 February 2009 hi,
it will be helpful if some one educate me on the follwoing point.

there is a land development agreement between three parties. first party is the owner of the land, second party taken development rights and inturn passing it on to third party. the agreement is between three parties.
party two and three have a director in common, my doubt is, the person who is common director to party two and three can sign the agreement on belalf of both the parties or not. if he signs on behalf of both is it legally valid or not.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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17 February 2009 Yes it is valid provided that the party is having proper power of attorney and also a resoultion passed at the meeting of the board and a copy is given to you alongwith commonseal affixed on it.