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re: Legal question about verbal contract
Posted on 5/16/24 at 1:12 pm to brbengalgal
Posted on 5/16/24 at 1:12 pm to brbengalgal
Until you exchange consideration (some sort of payment or physical good), a handshake deal is really just a handshake. Until the parties actually exchange something of value or sign something, they’re still basically haggling.
That’s why so many places ask for a deposit upfront. The deposit serves as consideration, meaning the contract is now in effect.
That’s why so many places ask for a deposit upfront. The deposit serves as consideration, meaning the contract is now in effect.
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