The threshold question with respect to any contract-based cause of action is whether a binding contract was ever formed. In order to create a binding contract, there must be a manifestation of mutual assent sufficiently definite to assure that the parties are truly in agreement with respect to all material terms. Courts look to the basic elements of the offer and acceptance to determine whether there is an objective meeting of the minds sufficient to give rise to a binding and enforceable contract. An offer not given for consideration may be revoked at any time, and the moment of acceptance is the moment the contract is created. In the case of a contract conveying an interest in real property, the statute of frauds requires that an agreement be reduced to a written instrument signed by the party against whom the plaintiff seeks to enforce the agreement. Here, the contract lacked the signature of one of the sellers and so no binding and enforceable contract was formed.
Real-X Realty, LLC v. Crest Bellport, LLC, NY Slip Op 01389 (2d Dep't March 11, 2026)
