Post: FL: Purchase Agreement

Posted by Frankie on 5/16/08

Hello,

I understand that a contract is formed by an offer,
acceptance, and consideration. In addition, transactions in
land require the offer and acceptance be in writing and
signed by the person charged.

1) Would the above apply to e-mail correspondence?

Here's the correspondence in question:

Land is made available for sale to buyer soliciting sellers.

The buyer contacts seller with the following by e-mail: "We
can pay $13,875 for the lot. Let us know if you are
interested and I will send a contract. We pay all closing
costs and can close within 2 weeks. Thank you. /electronic
signature"

The seller responds one day later by e-mail with this: "I
accept your offer below of $13,875.00 - it is a fair price
that merits no further negotiations. Please send the
contract . . .. /electronic signature."

Do the above correspondences qualify as offer and
acceptance (cash and land are consideration), thereby
forming an enforceable contract? Does the seller have a
cause of action for specific performance against the buyer?

Does e-mail and e-signatures meet the requirements of the
Statute of Frauds?

Thanks!

Posts on this thread, including this one

FL: Purchase Agreement, 5/16/08, by Frankie.