Are broken verbal Contracts(money transfered) sustainable for a class action suit?

Question

Vasilating over pursuit in possible fraudulent claim of business assets to gain funding

It was asked as a general question to gain opinion, yes I am aware it is vague, I am aware that class action means involving others(there are) My question was pursuant on instigating a suit based on a verbal agreement. CEO was considered a friend,(no longer)Lesson learned signed contracts are golden. to those who posted a usable answer, thank you.

Answer 1

A contract is written in pen and on a paper for a reason. If your other party admits to a broken promise ..you win. Whats those odds?

Answer 2

A class action law suit refers to several plaintiffs against one or a small group of defendants.
they are usually meant to set precedents.

http://en.wikipedia.org/wiki/Class_action

Unless you have a witness to your verbal agreement or a receipt for the financial transaction you have no proof the agreement was ever made.
You need to be a lot more specific and detailed in your question to get an intelligent answer.
update your question with more info.
what type of business are we talking about?
what are the assets that would inspire or guarantee funding?
from where/whom was the funding derived?
Are there any witnesses to any communications involving this contract, it's funding, or assets?

Answer 3

Verbal contracts even though are binding but are tough to prove in court. No chance to win...wasted effort. Learn your lesson...it doesn't mean nothing until its signed on the dotted line.

Answer 4

In business law, they teach that an oral contract is binding, however it's impossible to prove without witnesses.

Answer 5

Nothing like being asked to answer a vague, ambiguous, illiterate but complex legal question.