When it comes to business transactions, not all agreements are in writing. In some cases, parties may rely on an oral contract, which is an agreement made through spoken words and not recorded in writing. While oral contracts can be legally binding in Nigeria, many challenges can arise when trying to enforce them.
When it comes to oral contract cases in Nigeria, there are a few key factors that should be considered. These include the complexities of proving the existence of a verbal agreement, the limitations of verbal agreements, and the importance of seeking legal counsel.
Proving the Existence of an Oral Contract
One of the biggest challenges in oral contract cases is proving the existence of an agreement. Unlike written contracts, which can be easily referenced and reviewed, oral contracts rely on the memory of those involved in the transaction. This can make it difficult to establish the terms of the agreement, and disagreements can arise as to what was actually agreed upon.
Additionally, witnesses are often needed to corroborate the existence and terms of the oral contract. This can be difficult, especially if the people involved in the transaction do not agree on the terms or cannot be located.
Limitations of Oral Contracts
Another challenge with oral contracts is their limitations. Because they are not recorded in writing, they can be subject to misunderstandings or misinterpretations. In some cases, parties may rely on verbal agreements that are not comprehensive or do not address all aspects of the transaction.
Furthermore, oral contracts may not be enforceable in all situations, particularly when it comes to certain types of transactions such as real estate transactions or agreements that exceed a certain monetary amount.
Seeking Legal Counsel
Given the potential challenges associated with oral contracts in Nigeria, it is essential to seek legal counsel before entering into any agreement. A lawyer can help ensure that all aspects of the transaction are addressed and that all parties have a clear understanding of the terms of the agreement.
If a dispute does arise, a lawyer can also help navigate the legal system and work to enforce the terms of the agreement.
While oral contracts can be legally binding in Nigeria, they come with their own set of challenges and limitations. If you rely on an oral agreement, it is important to take steps to ensure that all parties have a clear understanding of the terms, and to seek legal counsel if a dispute arises. By doing so, you can help protect your interests and ensure that your agreements are enforceable.