Which are the three methods that can be used for exchange of contracts?

• A. Physical (personal exchange)
• B. Postal
• C. Telephonic
• D. Electronic

Answer: (B)

The way contracts are exchanged in conveyancing can be done in three valid forms: physical exchange (in person or via representatives with signed copies exchanged), postal exchange (contracts sent to and exchanged by post so both sides hold the signed documents), and electronic exchange (contracts exchanged electronically, using electronic signatures or secure digital transmission, with terms identical and agreed by both parties). Telephonic exchange isn’t a valid binding method because there’s no written record of the terms or proof of delivery and intent to be bound. So the three workable methods are physical, postal, and electronic.