Jennifer submits an offer on a Kansas City property on Friday afternoon with a written deadline of 'acceptance by Sunday at 5 p.m.' On Sunday at 4:45 p.m., the seller signs the acceptance form. However, the seller's agent does not reach Jennifer's agent until Monday morning to communicate the acceptance. Jennifer had already submitted a different offer on another property Sunday evening. Under Missouri law, which statement BEST describes the legal status of Jennifer's original offer?
Correct Answer
D) No contract was formed because the acceptance was not communicated before the Sunday 5 p.m. deadline
Under Missouri contract law, acceptance must be communicated to the offeror before the offer's stated deadline to form a binding contract. The offer expired at Sunday 5 p.m. because acceptance was not communicated by that time — the seller's agent did not reach Jennifer's agent until Monday morning. The seller's signature at 4:45 p.m. is insufficient on its own; communication of acceptance is required. Because the offer expired before acceptance was communicated, no contract was formed, and Jennifer was free to make an offer on another property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An option contract gives one party the exclusive right, but not the obligation, to purchase or lease a property at a specified price within a specified time period. The buyer pays option consideration to keep the option open.
A purchase agreement is a legally binding contract between a buyer and seller that outlines the terms and conditions for the sale of real property. It is also commonly called a sales contract, purchase and sale agreement, or earnest money agreement.
Specific performance is a court-ordered remedy that compels the breaching party to fulfill their obligations under the contract rather than simply paying monetary damages. It is an equitable remedy used when monetary damages would be inadequate.
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