Knowledebase Tag: Effective Date
- Can you give an example of determining the effective date?
- If the broker fails to insert the effective date, may the parties rely on the date that the contract is delivered to the escrow agent as the effective date?
- If the broker fails to insert the effective date, may the parties later execute an amendment that establishes the effective date?
- When calculating the time for performance under the promulgated forms, is the effective date included as the first day?
- How important is it for the effective date of the contract to be filled in?
- On Saturday evening, the listing agent notifies the buyer’s agent that the seller accepted the offer from the buyer. The seller accepted the offer unequivocally and signed the contract. The buyer’s agent informs the listing agent that he will not be able to notify the buyer of the acceptance until Monday. Should the brokers insert Monday as the effective date?
- Who determines the effective date?
- I am confused about the effective date in TAR’s commercial contracts. The TREC contracts provide a place to insert the executed date of those contracts, and this date is defined in the contract as the “Effective Date.” There is no similar place for the brokers or the parties to insert such a date in the commercial contracts.
- How do I determine the effective date?
- If the effective date is not filled in, does that mean that there is no contract?
