Bicycle Sale Legal Dispute

Summary

No formal contract was made for the bicycle sale, and no money was exchanged. Without a written or verbal agreement on the price, its unlikely your friend can legally force you to sell the bike. Verbal agreements can be binding if theres evidence, but without proof, enforcing such agreements is challenging. A credible witness must have directly observed the discussion, as hearsay is generally not admissible in court.

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I was going to sell my bicycle to a friend and decided to hang on to it instead after realizing how much more it's worth.. there was no contract/bill of sale of any sort ever made for it, and no money exchanged.. now they're talking about trying to press charges against me over the ordeal... Would something like that even be possible? Should I be worried about anything or are they just trying to scare me into selling them the bike for basically nothing compared to what is worth?
Did you make any verbal agreement or promise to sell the bicycle to your friend?
It was talked about a couple times but nothing was ever set in stone as they kept saying it needed to wait until payday to see what they could give for it.. and when I told them there's no way I could accept $*-$* like they were trying to offer for a $*-$* bike even in the condition it was in.. I told him I needed at least $* minimum before considering to let it go...
Did your friend ever agree to your minimum price of $* for the bike?

In general, without a written or verbal agreement, it's unlikely they can legally force you to sell the bike.
No, he didn't. The most he offered was $*
Based on your information:

- No contract was formed as there was no agreement on price.
- Verbal contracts can be binding, but both parties must agree on terms.
- Without agreement, it's unlikely they can press charges.
How can a verbal agreement be binding without there being any actual proof anything was discussed?
Verbal agreements can be binding if there's evidence of the agreement, like witnesses or related actions. However, without proof, enforcing such agreements can be challenging.
And to be a credible witness one would've had to been right there in the same room listening to the discussion, correct? Not just been informed of it later on in the day?
Correct, a credible witness should have directly observed the event. Hearsay, or information received from other people, is generally not admissible in court.
Thank you
You're welcome, ****! If you have any more questions in the future, don't hesitate to ask. Stay safe!