Are verbal agreements binding?

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Are verbal agreements binding?

From what I have researched, if there are witnessed to the agreement, “a meeting of the minds” and also proof of intent, it is binding?

Asked on April 30, 2013 under Business Law, Indiana

Answers:

Nathan Wagner / Law Office of Nathan Wagner

Answered 8 years ago | Contributor

Verbal agreements are generally binding. A "meeting of the minds" is another way of saying that the parties intended to make an agreement. You don't necessarily need a witness, but you do need to convince a court that your version of the story actually happened. There are also reasons that an agreement might not be binding, for example it might be impossible or illegal to perform what was promised.


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