verbal agreement

  • verbal agreement

    Can you legally rely on a person’s word only instead of a written change in an agreement?

    This was the simple inquiry we got the other day.

    “Are oral variations of an agreement valid?”

     To illustrate let us take an example:

    If, for example, you agree to rent a house from a friend of yours for a fixed period of two years.

    You both furthermore agree that you should enter into a written lease agreement and you have a written lease drawn up properly.

    Everything goes well until the monthly rental increases come into effect as per the written lease agreement at the end of the first year.

    You discuss the situation with your friend who agrees to waive the increase verbally.

    But is this sufficient and can you legally rely on his word only?

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