Legal Question in Real Estate Law in Maryland

Re: Contract Law

A legally binding contract is formed when both parties have agreed to all significant terms and have signed the document. Usually if there are written changes a realtor will have parties initial the changes to signify their acceptance of each change.

Re: Contract Law

I presume that you are asking the question, "at what point is a binding contract formed". There are three basic "elements" to the formation of a contract. A contract is formed: (1) when there has been an offer; (2) the offer has been accepted; (3) some type of consideration (in the form of something of value, which could be either money or the promise to pay money or to do or refrain from doing some thing). Once those three elements exist, then a binding contract has generally been formed. If the contract is one for the sale of an interest in land, then the contract must be in writing in order to satisfy the statute of frauds.

Lawrence R. Holzman, Esquire

Joseph, Greenwald & Laake, P.A.

6404 Ivy Lane, Suite 400

Greenbelt, MD 20770

(301) 220-2200

fax (301) 220-1214

Disclaimer: Please note that the posting of this response is not intended to constitute legal advice. You should contact an attorney to obtain information applicable to your situation. This posting is not confidential or privileged and does not create an attorney/client relationship.

Re: Contract Law

Regarding your search for case law, I would suggest visiting the library located at your county's district/circuit court house. Obtain a copy of Maryland West Digest and begin your search using the keyword "contract." If you can't get to the court library during the week, the law library at the University of Baltimore is a good resource. The reference librarians can assist you with your search.