So, does this blog information have any practical benefit? Technically, the effect of signing under (SEAL) is effective only if two requirements are met: (1) The word ‘seal’ has to be in the body of the document (typically at the end just before the signature blocks), such as “signed under hand and seal, this _ day of January, 2011” and (2) separately, the end of the signature line itself must include “(SEAL)” or “(L.S.)”. In other words, under (SEAL) one party cannot later assert, without having the burden to overcome the presumption, that the parties failed, or did not, exchange the consideration set forth in the document at the time of signing the document.
The second legal effect of a document signed under (SEAL) is a presumption that the parties exchanged the consideration covered by the agreement. Thus, the longer 20-year extension that the (SEAL) provides can be good or bad, depending on whether you benefit or are burdened by the extended period. By contrast, contracts under Georgia law not under (SEAL) are generally subject to a 6-year statute of limitations. And, on the flip side, it gives you 20 years for you to assert claims against the other party if that party also also signed under seal. That is, it gives a party 20 years (essentially beginning with the date of the signature) to assert claims against you as to the transaction or contract covered by your signature. § 9‑3‑23, a document you sign under (SEAL) extends the statute of limitations to 20 years. What does this mean? Here is the answer under Georgia law. We all frequently sign documents on a signature line that includes (SEAL) at the end of the line.
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