On numerous occasions, the buyer indicated intent to buy the options in a company that is private. The options are transferrable. The buyer even sent a contract by email which was signed and faxed by the seller with no changes. After the fax was sent, the buyer went silent. No options were transferred. But does the seller have any liability for extending an offer and having it accepted?
2006-09-09 18:46:04 · 8 answers · asked by igeo 2 in Business & Finance ➔ Other - Business & Finance
I don't have a witness to the agreement, but I have a voice mail from the buyer stating that he will buy the shares at a certain price range. Not sure if that makes a difference. But that combined with his email with the contract, seems that he has made an offer than I then accepted. Does that change anything?
2006-09-11 21:16:04 · update #1
Oral agreements are binding contracts except for real estate. It is harder to prove the terms of them though with out a contract document.
2006-09-09 18:48:00 · answer #1 · answered by thesweetestthings24 5 · 0⤊ 0⤋
An oral agreement and a signed contract are two different things. If you talk to the buyer and has singed a fax copy of the document you offered with no changes I would call him/her email and fax them a letter saying you have 10 days to forward the monies on which you signed the contract or the contract will be null and void. I don't know what state you are in but some states do not allow a fax copy be proof in court.
2006-09-09 19:05:02 · answer #2 · answered by LINDA THE LIONESS 1 · 0⤊ 0⤋
An expression of interest is not binding. Did the contract have a signature of the buyer and seller? If so, it is a legal contract. But if the buyer has a contract signed only by the seller, then where is the agreement to buy? Also, you should never sign a contract to sell anything without the buyer signing as well in front of witnesses.
2006-09-09 19:00:37 · answer #3 · answered by sanwhatnow 1 · 0⤊ 0⤋
You had a contract that was prepared by the buyer, signed by you and returned to the buyer, did the buyer sign the offer? Do you want to sell or sue? If you want to sell then move on to a better potential buyer. If you feel like suing you may have grounds. Contact a Contract Attorney.
2006-09-09 18:50:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
it depends on what state you live in if u have a witness in some states it is binding however many states northern states especially if u go to trial later on down the road will rule it hearsay and dismiss a case. Take it from me i learned the hard way 5 minutes to sign somthing and type it up will save u years of hassle and a bigger return if anythign should go wrong.
2006-09-09 20:37:28 · answer #5 · answered by cassie 2 · 0⤊ 0⤋
no oral agreement is completely binding because when presented in court, and oral agreement has very little potential as compared to a written contract
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2006-09-09 18:48:26 · answer #6 · answered by absoluteao 3 · 0⤊ 0⤋
do you have a witness to this transaction
2006-09-09 18:48:18 · answer #7 · answered by darkangel1111 5 · 0⤊ 0⤋
no
2006-09-09 18:51:55 · answer #8 · answered by don_steele54 6 · 0⤊ 0⤋