When are verbal agreements invalid?

Can you tell me when verbal agreements are considered invalid?

Verbal agreements can be invalid in several situations, such as if they involve illegal activities or if they exceed a certain value.

What about agreements that are made in informal settings?

Informal agreements can still be valid, but proving their existence and terms can be challenging without written evidence.

Are there any specific laws that govern verbal agreements?

Yes, laws can vary by jurisdiction, but generally, verbal agreements are governed by contract law, which requires certain elements to be enforceable.

How can I protect myself if I only have a verbal agreement?

To protect yourself, consider documenting the agreement in writing, or at least follow up with an email summarizing the terms.