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Where are verbal agreements deemed valid?

I think in NC if the agreement is less than 10,000 and the terms will either be used up or expire no more than a year then it is legal. So if you say you will build XYZ for 9K and take 9months that is a legal verbal contract, but if the value was greater than 10K or it was going to take longer than 1 year it is not legal.
 
Verbal Agreements are subject to the following conditions:

1. There must be an offer and acceptance.
2. There must be consideration from both parties, assuming this is a bilateral contract.
3. Both parties must be mentally competent.
4. If one is a minor, he/she is allowed to void the contract.
5. I believe verbal contracts are ok with merchants.
 
Originally posted by: bleeb
Verbal Agreements are subject to the following conditions:

1. There must be an offer and acceptance.
2. There must be consideration from both parties, assuming this is a bilateral contract.
3. Both parties must be mentally competent.
4. If one is a minor, he/she is allowed to void the contract.
5. I believe verbal contracts are ok with merchants.
Click to expand...

Winnar.
 
everywhere in the US and most countries with a legal system
in the USA just got to make sure they follow the statute of frauds and other contract principles, bleeb posted a small amount of them

Wrong:
I think they have to be witnessed to even begin to have any legal validity.
Click to expand...

can't hurt to have a witness in court though
 
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