The useful link above has a popular post that suggests this:
"Try the following steps. It worked for my phone.
1. After factory reset, tap on Market/Play Store app
2. After logging in to account, don't tap on accept when prompted to agree to Google Play terms of service.
3. Return to home screen and wait a while for Market/Play Store to be automatically updated to latest version of Play Store (take abt few seconds to a minute or so)
4. Tap on Play Store and agree to Google Play terms of service"