Verbal Agreement
A verbal agreement is a verbal contract between two parties, where each party agrees to certain terms and conditions. This type of agreement can be made orally or in writing, but it must be clear that both parties understand and agree to the terms.
There are many different types of verbal agreements, but some of the most common include employment contracts, leases, and purchase agreements. While verbal agreements can be legally binding, they can also be difficult to enforce. This is because there is often no written record of the agreement, which can make it hard to prove what was actually agreed upon.
If you are entering into a verbal agreement, it is important to make sure that you understand the terms completely. You should also get any important details in writing, such as the names of the parties involved, the date of the agreement, and what each party is responsible for. This will help to protect your interests if there is ever a dispute about the agreement.