When is a written contract considered to have an effective date?

A written contract is considered to have an effective date when it is signed and communicated between the parties involved. The act of signing demonstrates the parties' agreement to the terms outlined in the contract, while communication ensures that all relevant parties are aware of this agreement. This mutual consent establishes the contract's enforceability, marking the point at which the obligations and rights specified in the contract begin to take effect.

Other factors, such as filing with a court or having a notary witness the signing, do not play a role in the initial establishment of an effective date for most contracts, particularly in real estate. Additionally, payment of earnest money is a common practice that may indicate a commitment from the buyer but does not necessarily establish when the contract itself becomes effective.