Contract? Yes or No
Well, sometimes it is difficult to determine if a piece of paper is a contract or not. Below are a few items to consider.
In SC, in order for a contract to be enforceable, it must be in writing. Oral contracts are no good.
Also, all changes on an offer has to be initialed and dated in order to be sure your contract is enforceable.
It is amazing how many "contracts" don't have the proper initials and/or dates. People tend to think this is not important, but it is critical.
A contract is not considered "ratified" until it has been delivered to all parties.
The elements of a legal contract are:
4) Competent Parties
5) Legal purpose
Earnest Money is not consideration for a contract.