Some 20 years ago it was verbally agreed that 3 siblings could use a trust set up by a grandparent to pay for the education. This was used by two of them. The third a 50 yearly brother recently got married and wants his share which he is entitled too. The two siblings that used the funds have agreed to settle on a pro rata basis. Unfortunately the brother will not accept this asking for the full amount used from 1994 plus 7% interest.
Bearing in mind that two siblings have utilised the agreement does a "Verbal Triparty Agreement set a precedence?"