Verbal Agreement in Florida: What You Need to Know
When two parties agree on something, whether it`s a business deal or a personal arrangement, it`s always wise to put it in writing. However, not all agreements are formal, and sometimes parties enter into verbal agreements. Verbal agreements are binding in Florida, but they come with challenges.
In this article, we`ll go over what verbal agreements are, how they work in Florida and some of the challenges they present.
What is a Verbal Agreement?
A verbal agreement is an agreement between two parties that is not in writing. It is a verbal contract that can be made through spoken or written communication. In Florida, verbal agreements are legally binding, just like written agreements, as long as they meet certain requirements.
To be binding, a verbal agreement must have the following elements:
– Offer: One party makes an offer to the other party
– Acceptance: The other party accepts the offer
– Consideration: Both parties receive something of value in return for their promises.
If these elements are present, then the verbal agreement is legally binding in Florida. However, proving the terms of the agreement can be more difficult with verbal agreements than with written agreements.
Challenges with Verbal Agreements
One of the biggest challenges of verbal agreements is proving the terms of the agreement. In a written agreement, the terms are clearly spelled out, so there is no confusion about what was agreed upon. With verbal agreements, it`s often one party`s word against the other party`s.
Another challenge is that verbal agreements can be easily forgotten or misunderstood. People have a tendency to remember things differently, and this can lead to disputes over what was agreed upon.
Finally, it can be difficult to enforce verbal agreements because there is no physical record of the agreement. This means that if one party breaches the agreement, the other party may have difficulty proving that the agreement existed in the first place.
Tips for Verbal Agreements
If you are entering into a verbal agreement in Florida, there are some steps you can take to protect yourself:
– Document the agreement: Follow up the verbal agreement with an email or letter outlining the terms agreed upon.
– Be specific: Make sure the terms of the agreement are clearly spelled out and understood by both parties.
– Get a witness: Have a third-party present when the agreement is made to corroborate the terms of the agreement.
– Consider a written agreement: If the agreement is important or complicated, consider putting it in writing to avoid misunderstandings or disputes.
In conclusion, verbal agreements are legally binding in Florida. However, they come with challenges that can make them difficult to enforce. If you are entering into a verbal agreement, it`s important to take steps to protect yourself and ensure that the terms of the agreement are clearly understood by all parties involved.