Definition - What does Verbal Agreement mean?
A verbal agreement is an agreement between two or more parties, in which they each agree do something in exchange for receiving something from the other party or parties involved.
In the context of the law, verbal agreements are typically legally valid and enforceable. However, enforcing them can be quite challenging.
Justipedia explains Verbal Agreement
The reason why verbal agreements can be so difficult to enforce is because there is no actual physical proof of their existence. This is unless the two parties film or record the verbal agreement taking place. So, if one party denies in court that the contract ever took place, it can be very difficult for the other party to prove that the contract ever existed. This is why many people prefer written contracts with signatures.