No, not when it comes to property.Can it be said that a contract was made when price was agreed and when contract was drawn up (but not signed)?
Can it be said that a contract was made when price was agreed and when contract was drawn up (but not signed)?
From reading the tax consol act re this it seems to say that the date of acquisition can be when a contract is made. Can it be said that a contract was made when price was agreed and when contract was drawn up (but not signed)?
This is usally done when going sale agreed yet i always believed that when sale agreed there was no contract.
No.When i have signed the contract but the counterparty has not signed can it be said, at that stage, that "a contract is made"?
For a contract, you need an offer, acceptance of that offer and consideration i.e. money
I would presume all conditions would also have to be met to form a binding contract (eg loan approval).
No, the date of formation of the contract is the date that both parties sign and exchange.What I was saying is that the date of formation of the contract would be the date on which the contract becomes unconditional.
I disagree. The date that the contracts are signed and exchanged is the date that the contracts are signed and exchanged and probably executed/effective/enforceable.No, the date of formation of the contract is the date that both parties sign and exchange
Nope.The contract is made by there being an offer, acceptance, consideration as well as the actual contract itself being drafted.
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