Stefani and Tyler agree in an exchange of e-mail to form a partnership to buy and sell real property. Their partnership agreement is legally binding
A) only if a copy of the agreement is filed in the appropriate state office.
B) only if the agreement is printed in hard copy and signed by the parties.
C) only if the parties exchange valid consideration.
D) without more.

Question

Stefani and Tyler agree in an exchange of e-mail to form a partnership to buy and sell real property. Their partnership agreement is legally binding​
A) ​only if a copy of the agreement is filed in the appropriate state office.
B) ​only if the agreement is printed in hard copy and signed by the parties.
C) ​only if the parties exchange valid consideration.
D) ​without more.

Quizplus · Accepted Answer

The formation of a partnership agreement is legally binding without any further requirement as long as the agreement meets the basic requirements for a contract, which include mutual agreement, consideration, legality of purpose, and capacity of the parties involved. None of the other options (A, B, or C) are necessary for the formation of a legally binding partnership agreement.

Stefani and Tyler Agree in an Exchange of E-Mail to Form