Legal Question in Legal Ethics in Philippines

I'd like to ask whether a verbal agreement is binding considering that there was no written agreement that was executed and signed by the seller & the buyer? For ex.: If the seller agreed for the sale of his house & lot verbally, for example today, Monday, but before any amount was given nor received, the seller called it off the following day, Tuesday. The agreed date of payment was Wednesday. Is there any liability on the part of the seller?


Asked on 4/09/13, 7:52 am

1 Answer from Attorneys
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

Yes, the contract is already perfected by mere consent.

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Answered on 4/10/13, 1:11 am


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