• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Verbal Agreements

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

S

Solid989

Guest
My husband and I entered into a contract, both verbal and written, with my brother-in-law to purchase his business. However, the written contract that was submitted to my brother-in-law has not yet been signed.
Our offer to purchase the business was verbally accepted. However, my brother-in-law received a counter offer following his receipt of the written contract from our attorney. Now he wants to negotiate with us for a higher selling price than was originally agreed upon.
Do we have any legal recourse to bind him to the original verbal offer as he never did sign the written contract that was submitted to him?
This is taking place in the state of Florida.
 


I AM ALWAYS LIABLE

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Solid989:
My husband and I entered into a contract, both verbal and written, with my brother-in-law to purchase his business. However, the written contract that was submitted to my brother-in-law has not yet been signed.
Our offer to purchase the business was verbally accepted. However, my brother-in-law received a counter offer following his receipt of the written contract from our attorney. Now he wants to negotiate with us for a higher selling price than was originally agreed upon.
Do we have any legal recourse to bind him to the original verbal offer as he never did sign the written contract that was submitted to him?
This is taking place in the state of Florida.
<HR></BLOCKQUOTE>


My response:

If you haven't already inquired about it, then you should talk to your attorney about the Statute of Frauds. Basically, verbal contracts for amounts above a certain maximum amount allowed under State law, are unenforceable. Therefore, either negotiate for a higher amount, or let it go to the next bidder. And, you cannot force someone to sign a contract if they don't want to.

IAAL


------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."



[This message has been edited by I AM ALWAYS LIABLE (edited October 27, 2000).]
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top