Oral Contracts and Quantum Meruit
Oral contracts do exist and are legally enforceable in Texas, as a matter of law, if they meet necessary legal requirements and specificity.
Adequate consideration must be given between the two parties of a verbal contract to make it binding. Adequate consideration is defined in two ways:
(1) having a mutual reciprocal exchange [bargained for exchange] or
(2) having legal value [an individual must do something that he is not legally obligated to do].
If adequate consideration is given between both parties and all other legal requirements are met, then a verbal contract may be held valid in a court of law.
In contract law, quantum meruit is a doctrine that states there is an inferred promise to pay a fair amount for work and the materials provided, even without a lawful, enforceable agreement between the parties.
Having issues with a contract or oral agreement in Texas?
Contact Dallas TX attorney, Julian Nacol of the Nacol Law Firm P.C.
Tel: (972) 690-3333