i have a verbal agreement to buy a nonworking vehicle from a company. is the agreement binding?

Get Legal Help Today

 Secured with SHA-256 Encryption

i have a verbal agreement to buy a nonworking vehicle from a company. is the agreement binding?

I went to a local furniture business about a truck they have for sale. I talked to the person in charge and he verbally agreed to sell me the truck for 600. We made the deal back in November. I told him I was trying to get the money, and today I went over there to give him the Monet, only to have him tell me he might keep it to use as a billboard for the company instead. He told me to give him a day to think about things. Isn’t our verbal agreement binding? If it is, what can I do to make him honor it?

Asked on February 27, 2017 under Business Law, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

An oral (that is the better term than "verbal") contract is binding and enforceable for something like this, so as long as you were still in compliance with the terms, he would have to sell you the truck. The issue is, after 4 months, were you still in compliance? It is not typically reasonable that someone could take months and months to gather the money for a purchase unless specifically agreed to give them that much time, so unless the agreement specifically was that you could take 4 months (or 5, or 6, etc.) before paying, if you brought a legal action to enforce the oral contract, a court would most likely find that by waiting so long, you had breached the agreement, and thus he is free to do with the truck what he likes. That because (especially with oral agreements), if a term is not spelled out specifically, the court will fill in any "blanks" with reasonable terms; so if there was no agreement as to how long you had to come back with the money, a court would typically find you had a reasonable time, which might be a week or two, but not usually 4 months.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption