Chabad sues widow over alleged $17.5M...

Chabad sues widow over alleged $17.5M pledge

There are 9 comments on the Long Beach Press-Telegram story from Aug 30, 2010, titled Chabad sues widow over alleged $17.5M pledge. In it, Long Beach Press-Telegram reports that:

The 30th Chabad Telethon raised nearly $6.5 million Sunday night, but Tuesday lawyers for the Jewish organization will be back in court trying to settle an $17.5 million dispute with the widow of the founder of the former Ameriquest Mortgage.

Join the discussion below, or Read more at Long Beach Press-Telegram.

LBJJ

United States

#1 Aug 30, 2010
A win for Chabad would set the precedence that a simple VERBAL contract would be binding.

Kinda scary.
Frees Beach

Long Beach, CA

#2 Aug 30, 2010
LBJJ wrote:
A win for Chabad would set the precedence that a simple VERBAL contract would be binding.
Kinda scary.
A verbal contract is binding. It's as simple as keeping one's word. The only exception of which I know is real estate, where all must be in writing and no verbal contracts are permitted.
LBJJ

United States

#4 Aug 30, 2010
Frees Beach wrote:
<quoted text>
A verbal contract is binding. It's as simple as keeping one's word. The only exception of which I know is real estate, where all must be in writing and no verbal contracts are permitted.
Keeping one's word is a vanishing art in an honor-starved society.

Rather than relying on the three sides to every story (your side, my side, and the truth), I default to the signed document.
Frees Beach

Long Beach, CA

#6 Aug 31, 2010
LBJJ wrote:
<quoted text>
Keeping one's word is a vanishing art in an honor-starved society.
Rather than relying on the three sides to every story (your side, my side, and the truth), I default to the signed document.
Totally agree with you. Nevertheless, a verbal contract is legally binding.(Good luck proving the terms, though. Too many people's position is, "If it isn't in writing, I never said it -- unless it favors me.")
LBJJ

United States

#7 Aug 31, 2010
Frees Beach wrote:
<quoted text>
Totally agree with you. Nevertheless, a verbal contract is legally binding.(Good luck proving the terms, though. Too many people's position is, "If it isn't in writing, I never said it -- unless it favors me.")
I'm waiting to see how the "he said/she said" antics will play out in the McCourt's divorce trial. Of course we already khow who'll get Manny: the White Sox!
gentile

Redondo Beach, CA

#8 Aug 31, 2010
they would have taken a pound of flesh, but since he's already dead...
Attorney

Walnut Grove, CA

#9 Aug 31, 2010
Frees Beach wrote:
<quoted text>
Totally agree with you. Nevertheless, a verbal contract is legally binding.(Good luck proving the terms, though. Too many people's position is, "If it isn't in writing, I never said it -- unless it favors me.")
A verbal contract is not binding, and will be thrown out of court. Even a written contract is not binding unless there is consideration. They are likely trying to shame this old woman into paying.
Frees Beach

Long Beach, CA

#10 Aug 31, 2010
Attorney wrote:
<quoted text> A verbal contract is not binding, and will be thrown out of court. Even a written contract is not binding unless there is consideration. They are likely trying to shame this old woman into paying.
This is new information to me. You are an attorney and presumably current on the law. I am not. Would you please cite the civil code that states verbal contracts are not binding?
Croak ft Lil Wayne

Santa Ana, CA

#11 Aug 31, 2010
Ameriquest and its late president have beaucoup legal problems, maybe the money should go to business creditors first, worthy charities second.

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