Ask a Business Lawyer. Get Business Law Questions Answered ASAP.
Good afternoon. Once the 5 days elapsed, your signing of the contract did not constitute a binding agreement because the other party's original offer was deemed withdrawn upon the lapsing of the date. So, your signing of the contract constituted a new offer to the other party, and when accepted by the other party, created a binding contract which is not binding and enforceable.
I hope this has given youinformation that has been helpful to you. If the information seems more generalthan specific, please be aware that we are only allowed to provide informationand not specific advice. If you have a follow-up question, pleaseremember that there might be a delay between your follow up questions and myanswers because I may be helping others or taking a break. If you need additional clarification on this question, please do nothesitate to click Reply and I will be happy to do what I can to help youfurther. Thanks for allowing me to be of service to you. Please be aware thatthe information provided here is not legal advice. Rather it is simply generalinformation. All states have intricacies in their laws andany information given is simply information only and specifically is notintended to be, nor does it constitute, legal advice. This communication doesnot establish an attorney-client relationship with you. I hope this answer has been helpful to you.
The agreement you signed constituted a new offer and when accepted by the other party created a binding and enforceable agreement. But, the other party's acceptance had to have manifested in some way that showed that it was truly accepted.