Dave,
I assume we're talking about a lateen sail here. Yes, it's possible to connect the yard and boom by lashing both to the tack grommet on the sail - as long as (1) it's a good grommet - which probably means at least a #2 spur grommet, not some sort of hardware store grommet and (2) as long as the sail has good corner reinforcement patches to keep the grommet from pulling out. This probably means a minimum of around four layers of fabric (sail panel plus 3 reinforcing layers) in that corner.
I'm not sure I understand the concept you mentioned of bolting the jaw to the mast, as they are generally attached to the boom, not the mast. In any case, often the best way to attach a jaw to a spar is to cut a shallow groove or trench in the spar (maybe 3/16"-1/4" deep) glue the jaw into the trench and then reinforce it with a couple fasteners (screws, bolts, rivets, etc.). The tight fitting slot and glue just help keep the jaw from twisting or wiggling around in use. There are, however, a lot of variations and other ways to do it.