• I'd call that a "verbal agreement", but if money or goods and services are to be exchanged, I'd get everything down in writing and signed by both parties.
  • No,it's known as a Gentlemans Agreement but will not stand up in a court of law.
  • Yes. Will it hold up in court? Probably not; get it in writing.
  • Yes, I would never for any reason, Break my word.
  • "A verbal contract isn't worth the paper it's written on." -Samuel Goldwyn.
  • I would, but in a court it would be useless.
  • Between friends.. hell yeah! Between me and anyone else, I consider my oral agreement set in stone. When it comes to money issues, business etc etc then I don't accept an oral agreement and handshake from them. I want the paper.
  • Between two outstanding people, yes.
  • Yes, but it's much smarter to get everything in writing! Someone can alway deny agreeing verbally, but a written contract is much easier to prove!!!
  • depends on what the deal is obviously, anything with a large amount of money at stake, i want it in writing.
  • Yes it is...and it's legal too. But if the other guy denies it, it would be hard to prove in court without witnesses. "A verbal contract is not worth the paper it's written on." But then again a dishonest person can weasel out of a written contract as well. I've done a lot of business on a handshake. The golden rule is; Don't do business with people you don't trust.
  • Speaking in terms of ethics? Yes, absolutely. And of course, should be entered into only with others who have the same "code". But if we're speaking of legalities and courts and people in general? Then .. no ... in a society with gazillions of people and gazillions of situations where we interact .. each with rights and responsibilities? Nope .. GET IT IN WRITING. And even then, get expert advice on what points need to be in the contract. Make sure you know what it means before signing too. Would that those simpler days of "shake on it" were still with us!!! (But then, there were fights over where a stone wall was set or who owned a cow's calves too. lol)
  • I think it should. If I tell you something and shake your hand, rest asured that I will be doing all that is in my power to make it happen.
  • I would feel bound.But if it was in writing,then I`d know I could trust the other person...I`d trust them if I knew them trustworthy,but written is safer because it helps us to remember.
  • Like scareface said .... I only have 2 things in life..."My balls and my word" If a person gives there word, they better be held to it...if your not gonna keep it, then dont give your word. It shows what kinda person you are.
  • no, its full of maybes.
  • Technically, any oral agreement between two parties can constitute a binding legal contract. A bi-lateral contract is formed when to people agree with mirror terms to do something or not do something. If something of value passes between them the contract most certainly becomes enforceable.
  • In some states in America. . . . . . . .it IS!
  • Only when a third party witnesses this agreement. This is a requirment for an oral agreement to be legal in court.
  • They are binding as a written contract, but in a court of law much harder to enforce. That is on major difference between civil law and criminal law- civil law goes by a preponderance of the evidence, not proof beyond any reasonable doubt. Civil court judges like to see papers and dates and 2 or more witnesses that heard the oral contract being formed.
  • What's a "binding contract"? Any contract can be litigated provided a person has enough resources at their disposal. A contract...any only as good as the people involved.

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