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Beware of what you put in an E-Mail - It could be ruled as a Binding Contract

Be careful of what you say in an e-mail.  It could be ruled as a Binding Contract!! Homes for Sale, Coeur d'Alene Idaho

 "As much as communication originally written or typed on paper, an e-mail retrievable from computer storage" is proof of a deal, the court said.

It now appears that our emails are being considered "In-Writing."  E-mail and Handwriting are now one and the same according to a ruling of the Appellate Division, First Department of State Supreme Court in Manhattan, N.Y.

A lawyer at Thompson Hine, Mario J. Suarez, says that adding a disclaimer on e-mails may help. The e-mail disclaimer may read something like the communications "shall not be deemed an offer, as no documents are binding unless and until executed."

This has all come to light from a court case dealing with a breach of contract in a commercial real estate transaction--case--Naldi v. Grunberg-- The court's ruling, which also applies to residential transactions, is expected to bring some clarity to how legally binding e-mail is in real estate.

Both the lower court and the Supreme Court Justices affirmed that e-mails are binding in real estate negotiations, which is perhaps the most important implication for buyers and sellers.

You may want to rethink any emails you may be sending...

Source: "E-mail May Be Binding, State Court Rules," The New York Times (Feb. 17, 2011)


CONTACT INFO:

Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro
www.SellingNorthIdaho.com - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814
 

 

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Comment balloon 8 commentsPam Jank • February 22 2011 04:06PM
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