Is a Verbal Agreement as Binding as a Written Agreement
When it comes to legal agreements, there are two main types: verbal agreements and written agreements. Both types can be legally binding, but there are certain circumstances where one may be more advisable than the other.
A verbal agreement is one that is made orally between two or more parties. A written agreement, on the other hand, is a document that outlines the terms of the agreement and is signed by all parties involved.
Many people assume that a written agreement is always more binding than a verbal agreement, but this is not necessarily the case. In fact, in certain situations, a verbal agreement can be just as legally binding as a written agreement.
For example, if two parties agree to a verbal contract and then proceed to act on the terms of that contract, such as one party performing a service and the other party paying for that service, then the verbal agreement can be legally enforceable. This is known as an implied contract, where the actions of the parties show their intention to follow the terms of the agreement.
However, in situations where there is a dispute over the terms of the agreement, a written agreement is generally more advantageous. A written agreement provides clear documentation of the terms of the agreement, which can be referenced in case of a dispute.
Additionally, certain types of agreements must be in writing to be legally binding. For example, contracts for the sale of goods over a certain amount or contracts for the transfer of land must be in writing to be enforceable.
In summary, a verbal agreement can be legally binding in certain situations, but a written agreement is generally more advisable. It provides clear documentation of the terms of the agreement and is required for certain types of contracts to be enforceable. It is always recommended to consult with a legal professional if you have questions or concerns about the enforceability of a verbal or written agreement.
