If you wish to enter into an oral contract, make sure that you and your counterparty have a clear understanding of the specific terms of the contract and that there is no agreement on the binding agreement. Nevertheless, the safest course remains, the duration and the transaction load are to apply substantial agreements to a signed document. In the case of S.V. Narayanaswamy vs. Savithramma 2013R.F.A. No. 1163 of 2002 v R.F.A.No.1164 of Karnataka High Court, the complainant sought to prove the existence of an oral agreement on the sale of real estate, which was strongly alleged. With the complainant`s proof allowance, she did so by issuing cheques in several amounts for the entire estate consideration. In developing various pieces of evidence indicating the existence of a whole, the Tribunal confirmed the existence of the verbal agreement based on the examination of the evidence presented.

The decision in the Innoviva case is important because it speaks volumes about who we are as a society and that has a significant impact on the economic efficiency of the economy. Are we a society that believes in personal integrity and responsibility? Or are we a society where people don`t need to live up to what they say and give up their promises? The Innoviva case is a victory for a more decent and civilized society, where people are bound by their agreements. If someone you`re dealing with promises you something, they have to do it, whether or not that promise is reduced to writing. In a recent article, I wrote about the circumstances in which the courts imposed both legally binding declarations of intent. Since then, a Delaware decision has highlighted the circumstances under which the courts will apply oral agreements – and suggests that the old saying “an oral contract is not worth the paper on which it is written” is no longer true. A famous example of the applicability of an oral contract was given in the 1990s, when actress Kim Basinger made her promise to star in the film De Lynch Boxing Helena. A jury awarded $8 million in damages to producers. Basinger appealed the decision and subsequently expected a lower amount, but not before having to go bankrupt.

In addition, Section 48 of the Registration Act, 1908, provides that all non-will documents duly registered under this Act, relating to personal or real property, take effect against any order, arrangement or declaration concerning that property, unless the agreement or declaration was accompanied or shipped with the property.