Verbal Contracts are just as legally binding as written contracts, the only difference is how easy it is in order to prove what the actual agreement is.
That said, without knowing the exact details it's really hard to know what Neds legal obligations were, and what Justin's legal obligations are. This applies to both the verbal agreement between Ned and the witness's as well as the agreement between Justin and Ned.
Possibly, but we are in crypto world... At best unregulated and at worst unrecognised.
Even a legal suit would be worthless, as it would take months or years, and things move in the order of seconds or days here. Plus, who would stump up for lawyers?
Well said @bengy. I was just coming over to comment the same sentiment. I know verbal agreements can be binding but it's the wild west in crypto and there is next to zero precedent in this case.
Posted via Steemleo