When going into a business contract, there are two ways either through a verbal contact or a written one. Though most people still use verbal contacts but i feel a written one is a lot more safer as the words of people can't br relied upon.
Are verbal business contracts still effective these days?
- Thread starter eldavis
- Start date
Of course yes. Verbal communicated contracts still exist. ln my country they are the ones leading especially for the low and middle income earners. Mostly these kinds of contracts involve local and peer to peer deals.
Since I have professional experience I always insist on written terms and condition, I do not do any deal verbally, except buying low value items from local retailers paying cash. Some internet companies specialize in making up fake verbal contract stories to criminally defame innocent investors.
- Thread starter
- #6
True, with verbal contracts there is no evidence, meaning the other party can easily change their minds and there would be notting you can do about it at all. So it would be a lot better to have a written contract
Verbal business contracts are still so common these days. But I advocate for written contracts no matter how small you deem the business to be. Contracts are easily broken these days and no court will help you without clear evidence that you actually agreed with the other party.
Written contracts are still easily broken, not to talk of verbal contracts that have no traces of evidence. You would explain and he tired and no one would understand when contracts are breached if you run business with verbal agreements.
