Best Answer

You can, but it would be professional and courteous to let the first buyer know you're considering a higher bid and that he should get a contract to you right away. Because you made a verbal agreement, it would be the classsy thing to do to go with the first buyer. A contract for land may not be binding until there is some writing providing evidence of agreement on the important terms. However, it is the nature of contracts that they can be "broken" if there is sufficient advantage to doing so. As long as the new opportunity will cover any damages, then it makes economic sense to go for the higher offer. Of course, if you value your reputation, it must be done fairly and openly with the other bidders. Similarly, claiming to have a higher offer (when you don't) will risk the entire deal AND your reputation.

2007-03-28 17:04:45
This answer is:
User Avatar

Your Answer


Related Questions

Can a person be held to a contract when only one party signed the contract and can the contract be changed verbally without notice?

Written contracts cannot be verbally changed. A contract can be enforced if only one person signs it, particularly against the ones that signed it.

Can a change in the late charge be added on verbally after you sign a contract?


What are the differences between a simple contract and a formal contract?

simple contract cane be formed as verbally or as writing whereas formal contracts can only be formed as writing.

What is difference between contract and commitment?

A contract is usually something that is signed and dated and legally binding. A commitment is just something that you have verbally agreed to do.

Can you put a lien on a business if the owners verbally promised a certain amount of money and never respected the verbally contract between both of us?

Sorry. No. You're learning a hard fact of life. Verbal "contracts" are not legally enforceable. The old saying is very true; "A verbal contract is worth the paper it is printed on."

What is a general agreement called?

a contract perhaps? or if you're talking about verbally agreeing with what someone says, it may be "Yay" or "Aye" as in voting.

How do you spell verbally?


If you verbally agreed to a contract for an auto warranty and it was sent to you but you changed your mind and never paid nor signed are you liable?

If they didn't send a copy of a signed contract - probably no. They sent you a contract to sign and you did not do so - then also no. Did you benefit from the warrenty already? Case dismissed.

What is the example of oral contract?

An oral contract is an agreement between two or more parties. It is enforcible, however, most attorneys claim that an oral contract isn't worth the paper that it's written on. Entertainers are often sued for breach of oral contract when they verbally agree to perform somewhere, and then change their mind.

Can a used car dealer verbally add on a late charge for 1 day late months after the contract that was signed said 10 days late there would be a charge?

No, a Signed contract is Legally binding, you would need permission from a courthouse to modify any such contract.

What rhymes with verbally?

Hyperbole rhymes with verbally.

How do Muslims communicate verbally?

how do muslims communicate verbally

What part of speech is the word verbally?

Verbally is an adverb.

Can you use verbally in a sentence?

Yes "verbally can be used in a sentence"

Can I cosign verbally?

You have to be kidding. NO. You cannot sign verbally. To sign is to write your name.

Is there a test to take if your parents verbally abused you?

If you have to ask... Then you are probably being abused verbally.

If you agreed to a lease option verbally but signed a contract for lease only can you get the money that was supposed to go to the purchase?

Hi Written Contracts supercede oral contracts. Some extraordinary circumstance apart, the court will uphold the written contract. Sorry. You just needed to ensure that what you signed was what was agreed.

What does sale agreed stc mean?

it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts

Do girls act more verbally than guys?

no i think that were all verbally in the same way

How do I stop verbally abusing my spouse?

You can stop verbally abusing your spouse by appreciating her role in the family.

Can failing to fulfill a verbal condition to a written contract render it null and void?

You cannot verbally modify a written contract. Lawfully a binding legal contract can only be changed using the same medium as the original agreement. (i.e. Verbal contracts can be changed by other verbal agreements). It's not a legally enforceable and binding contractual term if it's not in writing.

Is a contract legal if it is not initialed?

Probably. But WHY isn't each page initialed? Is it an oversight? Or was the person who didn't "initial" it communicating some disagreement with the language of the contract? The really important thing is that it's signed. Some contracts have to be in writing and signed, per the Statute of Frauds or the Uniform Commercial Code. Other contracts can be binding if done verbally or part verbally and part in writing, but if the written part has a space for somebody's signature and that person didn't sign it, how can you say there was a meeting of the minds and a real agreement? Not signing is a big problem. Not initialing each page is a smaller problem that is less likely to void the contract.

What is the disability that affects a students ability to communicate verbally and non-verbally with others?

expressive aphasia

What is good sentence with verbally?

The angry driver verbally slandered the owner of the car that had just cut him off.

Is it illegal for parents to verbally threaten their kids?

Yes. It is illegal to verbally threaten their kids for any reason.