BFFs no More: The Verbal Agreement That Cost R1 Million
Not everyone knows that the verbal agreements we make every day are, with very few exceptions, every bit as valid and enforceable as formal written contracts. We’ll discuss the dangers of that with reference to a recent High Court fight between two ex-friends over a R1m payment made by one of them to the other’s […]
Verbal agreements – Not much good, but lots of bad and ugly
“The Good, The Bad, and The Ugly” (Spaghetti Western, 1966) A common myth – one that can get you into a whole lot of trouble if you aren’t alive to it – is that verbal contracts are not legally enforceable in South Africa. The opposite is true. With very few exceptions, our law will hold […]