Legal Question in Business Law in Virginia

the owner of a business made a verbal contract with me to give me 50 percent of the business in january 2004, now he is getting a divorce and i need to know if it is a binding contract in virginia


Asked on 1/25/10, 1:55 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Such an oral contract would probably be voidable under the Statute of Frauds codified at Title 11 of the Code of Virginia, and, if so, therefore not enforceable

(in my opinion).

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Answered on 1/31/10, 11:42 am


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