Although I was aware that a written contract was binding, I didn't realize that e-mail exchanges can also constitute a binding contract. Here's a summary of what I've read in articles. Courts have ruled that an e-mail can be contract if there is an "offer, acceptance and intent to be bound," meaning there is a "meeting of the minds." To avoid creating a contract, e-mails should contain language specifying the content is subject to further negotiation and does not constitute a binding contract.
Based on what I've read, I will be careful not to let my e-mails become a binding contract.
See E-mail Exchanges Can Create Binding Obligations and When An Email Becomes a Binding Contract for more details.
For more on The Practice of Personal Finance, check back every Wednesday for a new segment.
This is not financial or legal advice. Please consult a professional advisor.
Copyright © 2013 Achievement Catalyst, LLC
Subscribe to My Wealth Builder
November Income – $5214.58
1 week ago
No comments:
Post a Comment