Be careful of what you say in an e-mail. It could be ruled as a Binding Contract!!
"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)