Formalities impact transactions. They are more than a mere logistical exercise; they matter. A recent English case – which turns on the failure to obtain a single handwritten signature – demonstrates that not complying with formalities can result in catastrophe. That case also demonstrates how bad facts can make bad law, and it provides fertile ground for a number of questions. Above all, that case serves as a reminder to transaction parties and their counsel to exercise vigilance as they structure and execute their transactions, particularly where conflicts of law issues are involved.