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Can a down payment be in a verbal agreement?

In: Repossession, Banking, State Laws [Edit categories]

Answer:

No! When working with loans, debts, and repossessions, always get everything in writing.

First answer by Boonenoob. Last edit by Boonenoob. Contributor trust: 2 [recommend contributor ]. Question popularity: 2 [recommend question].

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What is a verbal agreement?
Three Elements of a Verbal Contract In order to be considered valid, a verbal contract must contain three elements: offer, acceptance, and consideration. • Offer: The person making the offer in a...
Does a lease agreement be a verbal agreement?
No it doesn't.
What is a down payment?
a portion of the purchase price that is paid as a condition of getting a loan
What about your down payment money?
pay it
Can a written will override a verbal agreement?
Generally, yes. A written will will over-ride a verbal agreement.