Legal Question in Real Estate Law in Ohio

Re: Contract Validity

If the Landlord and one of the two Tenants have signed, then there is most likely a binding agreement. However, the one who did not sign yet may not be responsible yet. It is possible to argue that the one Tenant who has signed acted as agent for the other. The delivery of the security deposit is not required. However, if I were you, I would take the position that the lease agreement is not in effect because one of you has not signed yet. Then negotiate a release from the Landlord.

Re: Contract Validity

Most like there is no contract, especially if the landlord did not sign the lease first. In such case there was an offer made by the prospective tenant who signed but it was revoked before acceptance occurred. A more specific answer could be given if more facts are provided, including whether you are the landlord or tenant,whether the landlord already signed, and what outcome you seek. If you are the landlord you will have to mitigate your damages in any event, by using best efforts to seek another tenant, rather than hoping to collect from these two for the prospective lease term.