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Guys: I am a lawyer - I also have about 9 antique tractors and a whole of equipment. Please don't hold it against me. I have handled alot of contract litigation and have drafted a lot of contracts as well. Contrary to some misconceptions, you can have a validly binding oral contract. The terms of the contract cannot be too vague, or the contract cannot be enforced. The emails you exchange on the Internet provide valuable evidence of the terms of your oral contract. Both emails and electronic pictures, etc. can be easily admitted into evidence in my state (Texas) and in federal court. Money does not have to exchange hands, you just need mutual promises, e.g. I promise to give you $500, you promise to give me your tractor. Here is the practical effect - you will never end up in court over a $500 deal or even a $2500 deal. The lawyer fees would exceed the value of the money you're trying to recover. So, when you're making deals with guys in the tractor hobby, just forget about the legalities. If you're making a big deal, use common sense to protect yourself. If all else fails, there are several Internet escrow companies out there that will act as the middleman for exchanging the goods and money. With all that being said, I have always been impressed by how genuinely honest and sincere tractor hobby people are.
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