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Backdating encompasses a broad scope of conduct ranging from blatant fraud to the legitimate and common practice of executing a document after the event has already occurred.This article provides a brief overview of how to distinguish legitimate backdating from improper backdating.When Mc Guire joined United, it was an unprofitable regional health maintenance organization with annual revenues around 0 million.
Moreover, at times fabricated backdating can be innocuous when no third party’s rights are adversely affected and no law is violated, and other times backdating that memorializes can be problematic if it misleads a court to believe the document was executed on the date the event occurred. In order to mitigate your risks, you should always disclose your use of backdating by either identifying the date of execution or by utilizing “as of” dating.
Here, the event occurs before the document evidencing it can be executed, and the document simply memorializes the earlier event.
This is both a common and legitimate use of backdating.
Thus, when a contract is drafted that backdates to the date when the parties believe their agreement was reached, it may be unclear whether the backdating fabricates or memorializes.
Likewise, backdating is a common practice in the conveyance of property, and here too the time of the transfer of ownership can be unclear.