When used in a legal context, the term “subscribe” refers to the act of signing a document to indicate agreement to its contents. It is a formal act that is often witnessed or notarized to have legal efficacy. In signing a document, an individual affirms that they understand the terms and agree to be bound to them. Subscribe typically follows the phrase ‘I hereby subscribe…’
When Would You Use the Term ‘Subscribe’?
The term subscribe is used in many legal contexts, but its use is especially common in contract law, where two or more parties are formalizing an agreement. For example, individuals might subscribe to a contract of sale, a lease agreement, a loan agreement, a trust, or even a will. In all cases, the signature of the parties is essential to demonstrate their agreement to the stated terms.
The Implications of Subscribing to a Contract
When an individual subscribes to a contract, they are generally bound by its terms. This means that they are legally obligated to fulfil the obligations set out in the contract, or risk legal action from the other party. Subscribing to a contract may also be seen as an acknowledgement that the individual is entering the agreement without being coerced.
An Example of Subscribing to a Contract
Let’s say two parties, John and Sarah, are signing a loan agreement. Both John and Sarah must sign the document to make the agreement valid. The document would include a clause such as ‘John, hereby subscribe to the terms of the agreement’, at which point John would sign the document to indicate their agreement to the terms. Then, Sarah would do the same. With both parties having subscribed to the contract, it is now legally binding.
Conclusion
Ultimately, the term subscribe refers to the act of signing a document to indicate agreement to its contents. It is a common term used in many legal contexts and helps to make legally binding contracts. Remember, when you subscribe to a contract, you are bound by its terms and should always make sure to read and understand them fully before signing.