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Updated about 14 years ago on . Most recent reply presented by

Mitch Kronowit's profile image
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Mitch Kronowit
  • SFR Investor
  • from Orange County, California
  • Member since Dec 3, 2009
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Mitch Kronowit
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  • from Orange County, California
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Mitch Kronowit
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  • Orange County, CA
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Tax, SDIRAs & Cost Segregation

Contract Law 101

Mitch Kronowit
  • SFR Investor
  • Orange County, CA
Posted

Just wanted to verify something with my BP team.

Let's say you signed an offer to purchase or some other contract on Oct. 5. The other party accepts your offer by signing and dating on Oct. 10.

Is not Oct. 10 the legal date of the contract? IOW, Oct. 5 has no legal relevance, correct?

Thanks in advance.

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Account Closed
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  • from Seattle, Washington
  • Member since Apr 10, 2010
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Account Closed
  • Landlord
  • Seattle, WA
Replied

Mitch that's true. A contract must have an offer and acceptance. Your offer date can not be the contract date because it missing the acceptance on that date.

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