Question

Verbal contracts are still used but it is difficult to defend them. Do you think when it comes to friends that those are often the contracts that have the most problems?

Answer 1

In times of conflict in a verbal contract, it is difficult to sue your partner over an oral contract. To sue a verbal contract, one must first prove that such a contract and the agreed terms exists in the first place.

A weak contract or a verbal contract will make the contract difficult to enforce incase a dispute arises. The basic elements of a contract are as follows:

• There must be an offer from one party and acceptance from the other party.
• There must be mutual consent.
• Both parties must have complete knowledge of the contract and it's terms.

Therefore most problems arises when there is unclarity and confusion between two parties due to lack of written contracts or witnesses.