ORAL CONTRACTS ARE VALID AND BINDING UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
There are certain exceptions
Many contracts are concluded on the telephone. Often a (fax) confirmation is sent of the most important terms of the transaction.
However, an oral contract as such creates a binding transaction under Netherlands Antilles and Aruban law. Oral agreements are valid and binding, unless the law requires certain formalities to be fulfilled. For example, you can only acquire ownership of real property or a registered ship by means of a notarial deed.
Although no written confirmation (fax) is required in the case of an oral agreement, for reasons of evidence it is recommendable. To avoid discussion about the question whether there is an oral agreement or whether your confirmation has been received by the counterparty, it is recommendable to send such confirmation and have the counterparty confirm by a signed fax or another signed document.
Karel Frielink
Attorney (Lawyer) / Partner
(20 December 2005)
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