Just like written contracts, verbal contracts are capable of being legally binding. However, they must contain certain elements to make them valid. What these contract requirements exactly depend on which country you’re in.
Ie;Interestingly, for a verbal contract to be legally binding within the UK, it needs to fulfil the same requirements as a written contract does. This means that, for a verbal contract to be legally binding within the UK, it must include:
and life go`s on....be happy.
- Offer and acceptance: one party makes an offer that the other party accepts
- Consideration: something of value needs to pass in each direction, like a fee for a service, this is called consideration
- The intention to be legally bound: both parties must intend the conversation to be a contract
- Contractual capacity: both parties must have the capacity to enter into a contract i.e. have the mental capacity to understand what they’re doing
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Just like written contracts, verbal contracts are capable of...
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