FACTS: A buyer made an offer on a residential property.  The sellers’ agent notified the buyer’s agent that only one seller was available to sign the contract.  The other seller was out of the country and would sign the contract one week later.

The buyer and one seller signed the contract on March 1^st.

One week later, on March 7^th, the other seller signed the contract.

ISSUE: What is the contract date?

ANSWER: March 7^th.

DISCUSSION:         

The Statute of Frauds holds that a contract for the sale of real property must be in writing and signed by the party to be charged to be enforceable. A.R.S. §44-101(6).

Here, the second seller did not sign until March 7^th, therefore the contract was valid on that day.

Note, to avoid confusion, the best business practice would have been to make the contract contingent upon the second signature one week later.  The parties could have clarified that the inspection period began on March 7^th, as well.