On a two party verbal agreement the other one died, is the agreement still valid? Are the children liable?

Answer 1

An agreement that a person has entered into does not terminate when that person dies, unless the agreement is of a personal nature and performance requires the personal skills of that particular individual. Assuming that is not the case, and performance does not require that particular individual's personal skills, the estate is bound by the agreement.

In general, oral contracts are as binding as written contracts.* However, 1) there are several types of contracts that, by law, are required to be in writing to be enforceable (for example, contracts for the purchase/sale of land), and 2) although oral contracts are enforceable, as a practical matter enforcement can be difficult because you first have to prove that a binding agreement was made (and its terms).

So: Yes, the contract is still valid, but it may not be enforceable as a practical matter because it may be difficult to prove. In any event, it is the estate, and not the decedent's children, that would be liable for satisfying the decedent's contractual obligations.

(*NB: Contract law is a governed by state law, and specifics will therefore vary from state to state.)

Answer 2

I think you need to be more specific with the situation and every state has different laws. Sounds like a two part question. In my state (CA) verbal agreement statue of limitations is 2 years, written one is 4 years (and a verbal agreement is just as binding as a written one as long as it can be proven it exists, I know this for a fact). It's possible it depends upon when the agreement was made. It also needs to be proven, unless it is not disputed. As for liability, if the children are to inherit then they can be held liable thru the estate. However, (again in my state) there is a statue of limitations to ask for collections and that's one year. Somethings are automatic like Medicaid, they demand payment back.

Answer 3

Depending on the nature of the agreement, it is probably still valid. The estate of the person that died would be liable, but the heirs would not be liable beyond the assets on the estate. If you are the party still living, your biggest problem will be proving the agreement existed in the first place.

Answer 4

Verbal agreements are not worth the paper there written on. The children are not liable unless they too have agreed to the conditions WHEN the deal was made and they had to be (in Australia 18) not to sure about other countries but

Answer 5

alot depends on the type of verbal agreement trying to be enforced

certain verbal must be in writing under the statute of fraud

also trying to prove a verbal and the conditions of the verbal upon the estate of the dead person will be your burden

Answer 6

Verbal agreements are legal and are recognized by the courts as such. In this case, I hope you have a witness or some sort of circumstantial evidence to back up your claim...

Answer 7

i would say if the children are old enough and knew of the agreement. they would feel liable and court wouldn't be necessary .but if the agreement was not made with them they shouldn't be responsiable.next time get it in writeing.

Answer 8

The saying is "A verbal agreement is not worth the paper it's written on".

Answer 9

verbal agreements do not wash in any state so in other words the children are not liable.

Answer 10

The verbal agreement is not enforceable under the law. It does not bind the children because the death of a contracting party closed his lips for the enforceability of the provisions of the contract under the law.