Is my verbal contract with trustedd binding??
I own a house (presently rented to a third party) in co-ownership (with a secured line of credit) with a person that declared personal bankruptcy. The trustee who is taking care of the bankruptcy made me a verbal offer on two occasions (mid December and early January) involving buying the co-owner`s share of the house. I accepted and upon the trustee`s suggestion I called a notary to draw up the necessary papers to sign, so as to become the sole owner of the house. The bank was also aware of this agreement. A week later the trustee called to say the deal was off (as he had not done his homework and realized the offer we agreed upon was not to his advantage). My question is: is our verbal contract binding as it would normally be under the civil code articles #1385, 1386..or is the civil code overrided by the bankruptcy law. Thank you for your help!
Posted from: Quebec
It should be, but you need to speak to a contract lawyer in Quebec to determine what the odds of enforcing a verbal contract are – my suspicion is that they are not very good…