Is a verbal P&S acceptance enforceable?  Handshakes aren’t what they used to be.  According to Massachusetts Statute of Frauds, (M.G.L. c. 259) the minimal requirements of an enforceable real estate contract are a memorandum (even if contained in multiple memos or emails, taken in entirety) with the following elements:

• Must be in writing to be enforceable
• Must identify the parties
• Must identify address / description of property
• Must identify the purchase price
• Must identify the closing date
• Must be signed by the party to be charged
• Deposit(s) remitted as outlined in the agreement, if any

Thanks to Board Legal Counsel, Mike Shepard, for the last minute review before going out in the recap!