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legalgems, Lawyer
Category: Legal
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Experience:  Just Answer consultant at Self employed
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I was called about settling an insurance claim and verbally

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I was called about settling an insurance claim and verbally agreed on the sum. But now I'm having second thoughts, is the verbal agreement binding?
JA: What state are you in? It matters because laws vary by location.
Customer: South Carolina
JA: Has anything been filed or reported?
Customer: I have not signed off on the claim
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Until the contract is executed by both parties either side is free to rescind. In order to be binding, there must be a written contract. Verbal contracts can be binding but generally for business transactions a written contract is required.
The contract will typically include a release so any contract should be reviewed by an attorney.
legalgems and 7 other Legal Specialists are ready to help you
Customer: replied 3 months ago.
Thank you very much. That's a relief.