Originally Posted by green field pictures

does contract law apply to a verbal investoment contract.

Originally Posted by green field pictures

I am a Motion Picture Executive Producer. I have a potential investor that verbally obligated $2.3MM to our project to both my wife and myself. This was most recently by telephone and no chance for written verification was at hand.

On previous incidences, he asserted that he was still in and I created a contract outline with him and gave it to him. He then, in a private conference, said he was bringing in the funding the next day. This union was not possible.

After a disagreement on his practices, this has been four months long, we spoke by phone.
this was the investor, my wife and my self. The investor told my wife he would be part of it and he told my he would be part of it. He has now gone back to the, "maybe", stage. Pre Production is scheduled to begin next month and he has put nothing on it.

Can the Verbal Contract and Breach thereof be asserted to the Investor to incite his involvement and a written contract with a Breach Clause.