03 May, 2022
Verbal Agreements Legal
Posted by: Hector Danilo Pompa Dominique In: Uncategorized
Verbal Agreements: Are They Legal?
In today`s fast-paced world, it`s not uncommon for people to make verbal agreements without giving it much thought. Whether it`s agreeing to split the cost of a vacation rental with a friend or promising to sell a car to a co-worker, verbal agreements are a convenient and efficient way to get things done quickly.
But are they legally binding?
The short answer is yes, verbal agreements can be legally binding in certain circumstances. However, there are several factors that can impact the enforceability of a verbal agreement, including the nature of the agreement and the parties involved.
Let`s take a closer look.
What is a Verbal Agreement?
A verbal agreement is an agreement made between parties without a written contract. These types of agreements can be made in person, over the phone, or via email or text message.
While verbal agreements are legally binding in some cases, they are generally not recommended as they can be difficult to enforce if there is a dispute between the parties involved.
Enforceability of Verbal Agreements
The enforceability of a verbal agreement depends largely on the circumstances surrounding the agreement. In general, a verbal agreement is enforceable if:
– It meets all of the requirements of a legally binding contract. This includes an offer, acceptance, consideration, and an intention to create legal relations.
– The terms of the agreement are clear and unambiguous.
– Both parties have the capacity to enter into a contract. This means that they must be of legal age and must not have any mental or physical impairments that would prevent them from understanding the terms of the agreement.
– There is some evidence of the agreement. This could be in the form of witness testimony, text messages, or email correspondence.
On the other hand, a verbal agreement may not be enforceable if:
– The terms of the agreement are unclear or ambiguous, making it difficult to determine exactly what both parties agreed to.
– The agreement involves an illegal activity or one that is against public policy.
– One of the parties lacks the capacity to enter into a contract, such as a minor.
– The agreement is considered too vague or uncertain to be enforceable.
The Bottom Line
While verbal agreements can be legally binding in certain circumstances, it`s always best to put things in writing if possible. A written contract provides both parties with more clarity and protection, and can help prevent misunderstandings and disputes down the line.
That being said, if you find yourself in a situation where a verbal agreement is necessary, make sure to follow the guidelines outlined above to ensure that the agreement is legally binding. And if you`re ever in doubt, it`s always best to consult with a legal expert to ensure that your rights are protected.
