Contracts
In Minnesota, a purchase agreement becomes legally binding when:
AThe buyer submits the offer
BBoth parties have signed and the acceptance has been communicated to the buyer within the offer deadline✓ Correct
CThe earnest money clears the bank
DThe seller's agent verbally tells the buyer's agent the seller will accept
Explanation
A Minnesota purchase agreement is legally binding when all required elements are satisfied: both parties have signed, the offer's terms have been accepted without change, and the acceptance has been communicated to the buyer before the offer expires. A verbal notification from agent to agent does not constitute binding acceptance.
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