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By the way I'm not a lawologist or anything but I'm pretty sure a verbal contract is legally binding
http://thelawdictionary.org/article/is-a-verbal-agreement-legally-binding/
"Verbal agreements and oral contracts are generally valid and legally binding as long as they are reasonable, equitable, conscionable and made in good faith."
"The reason oral contracts and verbal agreements are often looked warily upon is that they tend to present difficulties when it comes to enforcement. "
"When oral contracts are taken to court, there is always a risk of one of the parties lying about the terms of the agreement. In some cases, all parties may choose to be dishonest about the terms of the contract and thus create a legal impasse for the courts."