How powerful are verble agreements?

Answer 1

When dealing with Real Estate, the law says all agreements must be in writing. A verbal agreement is not a binding contract when it comes to Real Estate, and has no validity whatsoever in that case.

Answer 2

It depends on the integrity of those making the verbal agreement. If one or both are not people who keep their word, then it isn't going to mean much. If those who make the verbal agreement are people of honor, then a verbal agreement is just as binding as something written down. Unfortunately, there are too many people who won't keep their word, so we use written agreements.

Answer 3

It's not that the agreement is powerful, it's how much a court believes one side of the story over the other in simple terms. It's 50/50 and I wouldn't take those odds if I were you. Get the papers signed.

Answer 4

my gram-ma used to say... you cant trust your own shadow!

and to me verbal agreements are just that..... verbal!

I will give you my word and I'll stick to it... but unfortunately, this world we live in today is so diverse, we really cant rely on verbal agreements.

In any matter you would dispute under a court... you need proof! signed or written documents!

any legal aspect you agree on... i would definitely get signed!

so how powerful are verbal agreements.... slim!!!

Answer 5

verbal agreements aren't worth the paper they're not written on

Answer 6

in real estate, verbal agreements are absolutely worthless. all details of the transaction must be in writing

Answer 7

They are usually very binding legally , but as far as renting, it generally means a "Month-To-Month" lease.

Answer 8

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Answer 9

Depends on whether or not there are any witnesses.