Maria submits a written offer to purchase a home in Bellevue, Washington. The seller, Tom, signs the acceptance and his broker immediately emails a copy of the signed acceptance to Maria's broker at 3:00 PM on Tuesday. Maria's broker is in a client meeting and does not read the email until Wednesday morning. Under Washington contract principles, when is the contract formed?
Correct Answer
B) Tuesday at 3:00 PM, when the signed acceptance is communicated to Maria's broker.
Under the mailbox rule and Washington contract principles, acceptance is effective upon communication to the offeror or the offeror's authorized agent. Maria's broker is her authorized agent for receiving communications. The moment Tom's broker emailed the signed acceptance to Maria's broker at 3:00 PM Tuesday, the acceptance was legally communicated and the contract was formed — regardless of when the broker actually read the email.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Liquidated damages are a predetermined amount of money specified in the contract that the non-breaching party is entitled to receive if the other party breaches. In real estate, the earnest money deposit typically serves as liquidated damages.
Novation is the substitution of a new contract for an existing one, or the replacement of one party with a new party, with the consent of all parties involved. The original party is completely released from all obligations.
Offer and acceptance is the process by which one party proposes specific terms for a contract and the other party agrees to those exact terms, creating mutual assent. This mutual agreement, also called a meeting of the minds, is an essential element of every valid contract.
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