Sale of mining rights/ assets does not require a formal contract or HOA.
An agreement can be written or spoken of, which from my review was agreed via text/ emails.
Unwritten contracts are enforceable, but the party (dispute) must prove what was agreed to by way of written documents or texts, email or voice, to enable it to be enforceable.
If in doubt, the courts generally sides towards what is deemed normal practice, for the type of industry/participants.
You need a written contract for such things as sale of land/house, consumer financial contracts, car sales etc.
KDR could win but also lose.
Win and keep the asset, but lose by way of damages to be paid for breaking the said agreement.
Just my opinion.
KDR Price at posting:
48.5¢ Sentiment: None Disclosure: Not Held
