Verbal Contracts

We entered into an oral contract to trade vehicles. We traded our car plus
cash for another vehicle. Unfortunately, the other party did not have their
title at the time so the agreement was to hold onto our titles until theirs
arrived and then swap them. Now, their title arrived a week and a half later
and they want to drop the deal. Do verbal contracts hold up if we sue for
the title?

[able1]

It can be valid yes. Or you could go to small claims and try to seek compensation for any costs or damages that you have suffered.

[able1]

But nearly every state has enacted a "Statute of Frauds". The Statute of Frauds often requires that all agreements for the sale of goods over $500 (including vehicles) must be in writing. If you are buying or selling a car over for over $500 you must have the deal in writing...

You can still try to enforce it however and you can still seek damages for related parts of the oral agreement.

Admissions in Court -

A party to be charged can admit that there was an oral agreement and thus making an oral contract enforceable even if governed by the SOF.

So that is always worth trying as well.