News for hackers. Stuff that matters.
Re:Update on Taking Tesla Private by checkyoursudo on Monday August 13, 2018 @01:55PM (#17752099)
Your generalization is backwards. In general, US contracts do not need paper memorializing. The majority of transactions are not memorialized.

Specific types of transaction and certain value thresholds require memorializing.

Facts and circumstances are required to support verbal contracts, but in general verbal contracts very much are enforceable.

Re:Update on Taking Tesla Private by gamblor956 on Monday August 13, 2018 @02:06PM (#17752199)
Yes, of course. I'll ignore the law that I actually learned in law school and in the actual practice of litigating contracts for what some guy said on the internet...

There's a reason I brought up the falling apple example. Verbal contracts are enforceable--if they satisfy the same requirements as written contracts. On top of that, the terms of a verbal agreement must be corroborated by other evidence outside of the verbal agreement itself in order to survive litigation--and the trend in the US legal system is to require more supporting evidence.