Contracts
A Washington buyer receives the seller's signed acceptance by email at 3:00 PM. The acceptance was emailed by the seller's agent at 2:00 PM. When was the contract formed?
AWhen the seller signed the acceptance
BWhen the seller's agent sent the email at 2:00 PM (mailbox rule)
CWhen the buyer received and read the email at 3:00 PM✓ Correct
DWhen the buyer confirms receipt to the seller's agent
Explanation
Under Washington's electronic contracting rules and general contract principles, acceptance by email is effective when received by the offeror (buyer), not when sent. The contract was formed when the buyer received the acceptance at 3:00 PM.
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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.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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