Contracts
Mutual assent in a Massachusetts real estate contract requires:
ABoth parties signing the document simultaneously
BA meeting of the minds—an offer and a valid, unequivocal acceptance✓ Correct
CNotarization of all parties' signatures
DApproval by both parties' attorneys
Explanation
Mutual assent (also called a 'meeting of the minds') requires a valid offer by one party and an unconditional acceptance by the other. Any change to the offer's terms constitutes a counteroffer, not acceptance.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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