Which of the following is true regarding the consummation of a deal?
A) verbal agreements are considered binding
B) written confirmations always override terms verbally agreed to
C) deals agreed to verbally can be done subject to documentation
D) verbal agreements are never to be considered legally binding

Question

Quizplus · Accepted Answer

Verbal agreements can be considered binding, but it is recommended to have written documentation. Therefore, deals agreed to verbally can be done subject to documentation. Written confirmations may also be important, but they do not always override verbally agreed terms. Option D is incorrect, as there are circumstances where verbal agreements may be legally binding.

Which of the Following Is True Regarding the Consummation of a Deal