Legal Question in Business Law in Texas
IS a verbal agreement legal and binding in the state of Texas?
A motor vehicle was verbally given to a person before witnesses but, the title was not signed over before the person giving the vehicle away died.
1 Answer from Attorneys
As a Franchise Attorney I can say the following. An oral contract is enforceable unless its subject matter comes within the Statute of Frauds. The Statute of Frauds requires certain contracts to be in writing. For example, a contract to sell real property, to be enforceable, must be in writing. An oral contract to sell personal property for an amount greater than $500 must be in writing to be enforceable under the Statute of Frauds. So the unanswered question in your case is what was the vehicle worth at the time? If more than $500, there's a problem. Obtaining the vehicle from the estate of the deceased is an entirely different set of problems. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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