Verbal Contract Account Dispute

Summary

Verbal contracts in Missouri can be legally binding, but without written proof, disputes may arise. You are not necessarily obligated to provide account information, but doing so might help avoid legal issues. Consulting a local attorney is advisable.

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I have someone who is demanding account information for a savings account that we have sent up because my husband and I have a verbal agrement to pay back the money that we owe. The aggreement was that the money went into a trust account monthly however the trust was disolved without our knowledge and because of that we have opened a savings account to put the money in until the money is paid in full. Then we were going to sign the account over to the other party. Am i obligated to give them the account information before the money is collected
In Missouri, verbal contracts can be legally binding. However, without written proof, any disagreement could become a "he said, she said" situation. You are not necessarily obligated to provide account information, but doing so may help avoid legal issues. However, it's best to consult with a local attorney.