On the 11th January 2023, the Appeal Court has confirmed that a concluded and legally binding oral agreement was reached between Sally Johnson (Appellant/Claimant) and our client, Howard Spooner (Respondent/Defendant).
The appeal was an attempt to overturn Mr Spooner’s success at trial last February, where we secured declarations from the court confirming the existence and terms of an oral agreement, for Mrs and Mr Johnson to end their business relationship with him. Which meant Mrs Johnson must transfer to him her share in a company benefitting from a lease over The George Hotel on the Isle of Wight.
Oral agreements, although not always as concrete as written contracts, can still be legally binding and enforceable if all parties involved have a mutual understanding of the terms and conditions being agreed upon.
It is important to note that while oral agreements can be just as valid as written contracts, it is always advisable to have documentation of the terms and conditions agreed upon. This not only protects the interests of all parties involved, but also helps to avoid any misunderstandings or disputes in the future.
The full judgement can be found, here.