VERBAL AGREEMENTS Meaning and
Definition
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A verbal agreement refers to a contractual arrangement between two or more parties that is established solely through verbal communication, without any written or formal documentation. It is a type of agreement where the terms and conditions are discussed and agreed upon orally, often in a face-to-face conversation, phone call, or any other form of direct communication.
Verbal agreements are legally binding in many jurisdictions, although they can be more challenging to enforce compared to written agreements. The validity of a verbal agreement depends on the laws of the specific jurisdiction and the nature of the contract. While some verbal agreements hold the same legal weight as written contracts, certain types of contracts, particularly those involving real estate, sale of goods over a certain value, or agreements that extend beyond a certain timeframe, may require written documentation to be legally enforceable.
Verbal agreements rely heavily on trust and understanding between the parties involved. Clear and accurate communication is crucial in order to avoid misunderstandings or disputes later on. However, due to the absence of written evidence, verbal agreements can often be subject to interpretation and memory biases, making it harder to resolve disagreements that may arise.
It is generally recommended to reduce agreements to writing whenever possible, as written contracts provide a more robust and readily enforceable means of clarifying the rights and obligations of each party. Having a written document ensures that the terms are explicitly outlined, reducing the potential for misunderstandings and legal complications.
Common Misspellings for VERBAL AGREEMENTS
- cerbal agreements
- berbal agreements
- gerbal agreements
- ferbal agreements
- vwrbal agreements
- vsrbal agreements
- vdrbal agreements
- vrrbal agreements
- v4rbal agreements
- v3rbal agreements
- veebal agreements
- vedbal agreements
- vefbal agreements
- vetbal agreements
- ve5bal agreements
- ve4bal agreements
- verval agreements
- vernal agreements
- verhal agreements
- vergal agreements
Etymology of VERBAL AGREEMENTS
The word "verbal" originates from the Latin "verbalis", which is derived from the noun "verbum", meaning "word". In Latin, "verbalis" referred to anything pertaining to words or speech.
The term "agreement" comes from the Latin "agreementum", which is formed by the combination of "ad" (meaning "to") and "gratum" (meaning "pleasing" or "agreeable"). It initially referred to a contract or covenant that was mutually pleasing to both parties involved.
Therefore, the etymology of "verbal agreement" suggests an agreement that is made through spoken words or oral communication, without any written or formal documentation.
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