Full question:
A pre trial hearing was set, I was the defendant in this case. The plaintiff was trying to get money back from me, for money he gave me as a down payment on a home. We had come to an agreement before the trial and we agreed the house was to be sold and we would split the proceeds. I was to continue to pay for the home as well as insurance and property tax. We never signed any paper work as to this agreement. My question is this. Do I have to abide by the agreement seeing as how no paper work was signed?
- Category: Contracts
- Subcategory: Breach of Contract
- Date:
- State: National
Answer:
I am prohibited from giving legal advice. The answer will depend on all the facts and circumstances involved. If the terms were accepted and consideration, such as a dismissal of the lawsuit, was given in return, a valid contract may have been formed. An oral contract
may be enforced in the same way a written contract is, the difference is a matter of evidence available to prove the terms of the contract if there is a dispute. A contract that transfers land must be put in writing to satisfy the statute of frauds, but the agreement may have
been short of a transfer, and merely an agreement to transfer the property.
If it was put on the record and approved by the court, it is enforceable as a judgment. If it's not enforceable as a contract or a judgment, then it may have merely been an offer which is still subject to not being accepted and may be rejected or renegotiated.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.