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Can a hand shake be considered a binding contract?

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phatrock80

Guest
What is the name of your state? - texas

I have been dealing with this elderly couple on buying a hotel that they own. The hotel is in real bad shape but with renovations it will do great. The problem is that they say that they are sick and will not call the lawyer to finalize the deal. Thinking the property was already mine since they gave me the keys to start working I started renovating the rooms. I have already spent money behind the renovations thinking the property is mine they gave me they keys to access the whole hotel. Now they are having other people look at the property to sell to them. Do I have kind of right since we did shake on it and they did give me the keys to start working to either sue for the money I spent if they sell to someone else or to make sure the property is sold to me?
 


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phatrock80

Guest
So basically the money I spent is going to be a loss?
 

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