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Buachaill, Barrister
Category: Law
Satisfied Customers: 10976
Experience:  Barrister 17 years experience
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In his will my estrange husband left half of his business to

Customer Question

In his will my estrange husband left half of his business to our daughter my son was not happy and took out a cavata in fact the will left the half to me his estrange wife. I Did not want
the business nor did my daughter. My son made us an offer and would pay monthly and we agreed. Payments went well for over a year. I received a letter from my son solicitor saying that the business was not doing well and would i take a final offer I asked for proof
and I did not get it. As my son frightens me I accepted the offer via a solicitor and sent out accepting the offer I started to look into how much money I was losing on this deal
and it was £15.000 so I asked the solicitor cancel as it was too big a loss and get proof
I guess my question as i have not sign nothing can i withdraw my acceptance as my thinks I cant. My son owns the other half of the small finance company of lending money.
Submitted: 2 years ago.
Category: Law
Expert:  Buachaill replied 2 years ago.
1. IN law, an oral agreement is just as binding as a written agreement. So, strictly speaking, once you indicated your acceptance to your son's offer, it then became binding. Accordingly, your son can enforce this sale agreement by seeking specific performance of the settlement agreement you accepted. However, he may or may not adopt this course. However, you should not get into litigation over this point as you will lose much more than the £15,000 you think you are losing on the deal today. Litigation is very expensive and should only be embarked upon when you have a winning hand. The loser to litigation pays the costs of the winner. So losing is expensive. Accordingly, you should avoid litigating the issue as to whether the settlement agreement is binding as you will lose the issue.
Customer: replied 2 years ago.
Thank you at least I know.
Expert:  Buachaill replied 2 years ago.

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