At what point is a contract made?

[ArthurMcB]

When it comes to property

Why is a property transaction different to other situations requiring a contract?
Wouldnt contract law apply consistently and if so the elements of a contract are as iv laid out above.

Obviously signing and exchanging contracts in a property transaction is the end goal but i belive there are nuances to contract dates.

The making of a contract is not the same as the signing and exchanging which is at a definitive point jn time. The contract is made when the elements, as above, are in place.

Ultimately i do hear what you are saying sarenco and it makes sense but im not sure if its that clear cut vis a vis the "making" of a contract.

 

[Sarenco]

Why is a property transaction different to other situations requiring a contract?

Because of the Statute of Frauds Act, 1695.

There really is no nuance here. The contract only comes into existence when it is committed to writing, signed by both parties and exchanged.

 

[Johnno75]

The contract only comes into existence when it is committed to writing, signed by both parties and exchanged.

Absolutely correct.

And a monetary deposit paid. This is known as (partial) consideration which is an essential ingredient for any contract to be binding.