What are the differences between verbal and written agreements?

What are the main differences between verbal and written agreements?

Verbal agreements are spoken and often informal, while written agreements are documented and legally binding.

Can verbal agreements be enforced in court?

Yes, verbal agreements can be enforced, but they are harder to prove compared to written agreements.

What are some examples of situations where a written agreement is necessary?

Written agreements are necessary in situations like real estate transactions, employment contracts, and loans.

Are there any risks associated with verbal agreements?

Yes, risks include misunderstandings, lack of evidence, and difficulty in enforcement.

How can I ensure my verbal agreement is honored?

To ensure a verbal agreement is honored, follow up with a written summary and keep communication clear.