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A comment on Remembering my father. Parent comment

Re:Remembering my father by slavik81 on Tuesday September 15, 2020 @09:54PM (#24488801)
A valid contract requires consideration. That's one of the conditions I was referring to. A handshake and a deposit, for instance, could result in losing a lot more than just the deposit. However, not all consideration is monetary, which is why it helps to consult an expert.

I am not a lawyer, either. Just an engineer with the minimum legal training required for licensure, which is basically, "know when you should ask for help."

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Re:Remembering my father by ABCLAW on Wednesday September 16, 2020 @12:04AM (#24489438)
This is right, but misleading. Consideration isn't the big question in this thread. It's whether or not a verbal agreement can be binding.

In some cases it can be, but a mere agreement to agree is not binding.

The biggest takehome is 'consult with legal before making promises or representations to counterparties".

Edited this a few times to keep it as short as possible without being misleading.

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