Legal Question in Business Law in Louisiana
Is a verbal agreement valid if the manufacturer said he wanted an exclusive licensing agreement for my new product, We went as far as signing an agreement with a prototype firm. Well I signed the form but he had contact with the prototype guy as well. I also have emails comferming this and royalty offer.
Asked on 8/29/10, 6:32 am
1 Answer from Attorneys
Martha Amanda Mandi Lucas
Mandie Seale Lucas
The words of the actual agreement would have to be analyzed. There must be a meeting of the minds, with an actual offer and acceptance. In verbal agreements, there will have to be objective evidence of the agreemen, offer and acceptance. If the agreement is proved to be valid and breached, then damages will depend on actual loss.
Answered on 9/05/10, 7:31 am
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