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Knowledebase Tag: Verbal Agreement
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My seller received a written offer to purchase his property. Instead of countering the offer in writing, the parties engaged in verbal negotiations that resulted in a verbal agreement on new terms. Before the buyer’s broker submitted an updated offer with those terms included, my seller received a written offer from another potential buyer that he chose to accept. Now, the first buyer is threatening to sue my client for breach of contract because of their verbal agreement. Is the verbal agreement enforceable?
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