The listing agent received a full price offer that she faxed to the out-of-town seller. The seller signed the faxed copy, and faxed the signed copy back to the listing agent. The agent faxed the signed offer to the buyer's agent. Has contract been formed?

Question

Weston Winters

Business

2 March, 07:39

The listing agent received a full price offer that she faxed to the out-of-town seller. The seller signed the faxed copy, and faxed the signed copy back to the listing agent. The agent faxed the signed offer to the buyer's agent. Has contract been formed?

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Answers (1)

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Russell · Answer 1

Answer: Yes contract has been formed.

Explanation: According to the Uniform Electronic Transaction Act (UETA), electronic transactions are just as binding as transactions made on hardcopy documents. Moreover signatures made electronically reinforces the validity of these elctronic documents.

In the scenario the actual signature was signed on a hard copy by the seller, but it was then faxed back to the listing agent. This faxed copy, showing the faxed signature, is an electronic document that confirms the existence of the contract in accordance with the UETA. This faxed signature is as enforceable as an ink signature.