Quote:
Originally Posted by jbcjr14
If you have nothing in writing about a partnership, I would say you have about 90% of the battle won. The issue is what state you reside and if verbal contracts constitute a legal binding agreement. I am not an attorney, but did sleep at a Holiday Inn last evening. Maybe one of the legal warpathers can comment to this regard.
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Verbal contracts are binding in every state. The issue with verbal contracts, as opposed to written, is proof of the terms - it is easier to prove the terms of a written contract than an oral contract. It is up to the person asserting a term to prove the term existed.