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Kenneth Hunt
Kenneth Hunt, Principal Solicitor & Migration Ag
Category: Australia Law
Satisfied Customers: 265
Experience:  This is not legal advice. No client solicitor relationship is created. Seek independant legal advice
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When is a verbal agreement considered legally binding

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When is a verbal agreement considered legally binding?        My father has verbally agreed to sell a significant amount of furniture to the buyer of his house (for a ridiculously small amount of money). He only has a verbal agreement in place with the buyers, witnessed by the real estate agent.
Submitted: 8 years ago.
Category: Australia Law
Expert:  Kenneth Hunt replied 8 years ago.

A contract can be verbal only and contains four basic elements. An offer, acceptance, consideration (price) and an intention to create a legal relationship, that is a binding contract per se. If these elements exist then a contract exists. If however your father was at some material dissadvantage when he agreed then there may be a ground to revoke the verbal contract. It otherwise sounds as if a contract has been created.

 

If this has been of assitance please click on accept.

 

 

Customer: replied 8 years ago.
Could you please define 'material disadvantage'?
Expert:  Kenneth Hunt replied 8 years ago.
Well were the parties in an equal bargaining position at the time the agreement was made. Was you father fully aware of what he was doing. The sale of something cheap does not make it unfair or unlawful. If you father is in possession of all his facilities, was aware of what he was doing, was not placed under any undue stress at the time of making the decision, then it would appear the contract is properly made.
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