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**jberryhill** · 04-20-2005, 02:51 PM

In most places, it would depend on what, specifically, was $XXXX.

For example, Section 2-201 of the Texas Business and Commerce Code relevant to sale transactions states:

------
Â§ 2.201. FORMAL REQUIREMENTS; STATUTE OF
FRAUDS. (a) Except as otherwise provided in this section a
contract for the sale of goods for the price of $500 or more is not
enforceable by way of action or defense unless there is some writing
sufficient to indicate that a contract for sale has been made
between the parties and signed by the party against whom
enforcement is sought or by his authorized agent or broker.
---------

So, according to Texas law, for example, a Texan's word is his bond - up to $500. Beyond that, you'd need him to write it down.

04-20-2005, 02:51 PM	#8 (permalink)
jberryhill Philadelphia Lawyer Last Online: 11-24-2008 12:37 PM iTrader: (1) Join Date: Oct 2002 Posts: 2,390 DNF$: 3,331	Re: advice needed regarding verbal agreement In most places, it would depend on what, specifically, was $XXXX. For example, Section 2-201 of the Texas Business and Commerce Code relevant to sale transactions states: ------ Â§ 2.201. FORMAL REQUIREMENTS; STATUTE OF FRAUDS. (a) Except as otherwise provided in this section a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker. --------- So, according to Texas law, for example, a Texan's word is his bond - up to $500. Beyond that, you'd need him to write it down. __________________ John Berryhill Ph.d., esq. John-AT-johnberryhill.com Please do not send private messages via dnforum.com, email me directly.