News & Insights

Tech Ties That Bind

August 9, 2017

From text messages concerning real estate deals to the use to electronic signatures in binding transactions, real estate professionals are waist-deep in digital communications. But are these “smart” shortcuts exposing agents and brokers to professional liability allegations that tech-effected contracts are not valid?

Generally the elements of any legally binding contractual agreement include (1) an offer, (2) an acceptance, (3) consideration and (4) no defenses. In most jurisdictions, the essential factual elements necessary to prove contract formation are: (1) clear contractual terms that are definite and certain between the parties to exchange something of value; and (3) agreement between the parties as to the terms of the contract.

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