Is the original offer legally binding after my acceptance?

Full question:

My sister and I own a house together. I want to sell; she doesn't. I filed a petition to partition property. Her lawyer called me for a meeting where he made me an offer that I accepted. He said he would draw up the papers. The next thing I heard was from another attorney making me an offer half of the original offer, with the new attorney denying I was made the original offer. I had a witness at the meeting where the original offer was made and accepted. The question is: was the original offer legally binding once I accepted it?

• Category: Contracts
• Date: 04/07/2025
• State: New Hampshire

Answer:

To establish a legally binding contract, several elements must be present: (1) an offer; (2) acceptance; (3) consideration; (4) mutual obligation; (5) competency and capacity; and sometimes (6) a written document. If an offer is rejected, the offeree can no longer accept it, and the offeror is no longer liable. Rejection can be explicit or implied through a counteroffer. An offeror can also revoke an offer before acceptance.

Acceptance is the offeree's agreement to the offer's terms. It must be made in the manner specified by the offer or, if unspecified, in a reasonable way. For acceptance to be valid, the offeree must know about the offer, intend to accept it, and agree unequivocally to its terms.

Consideration involves an exchange of value between the parties, which can be a promise to do something or to refrain from doing something. This exchange must involve a legal detriment to the offeree. For instance, a promise to give something without receiving anything in return generally lacks consideration.

Not all contracts need to be in writing to be enforceable, but certain contracts, like those for the sale of land, must be documented according to the statute of frauds. In New Hampshire, for example, a contract for the sale of land must be in writing and signed by the party to be charged (N.H. Rev. Stat. Ann. § 506:1).