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Is A Verbal Agreement Legally Binding?

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Is a verbal agreement legally binding?

A verbal agreement is in fact legally binding if the parties came to an actual agreement, which can later be proven by overt acts taken on behalf of those parties, in reliance upon the agreement, and I know that some legalese, but really if you and I have a handshake deal, and you go out and you incur debt or take some sort of action based upon our agreement, then that is a legally binding oral agreement.

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