[Lancey Howard]

"Citi was negotiating in good faith and nearly completed the definitive agreements required to consummate the Citi/Wachovia transaction that was announced on Monday,"

"Was negotiating"? "Nearly completed"??
LMAO!!!
Like they say, "Oral contracts aren't worth the paper they're not written on."

[Candor7]

Oral contracts aren't worth the paper they're not written on.>>>>>>>>>>>>>>>>>>>>>>>

Bill Clinton disagrees.

But you also have something called the parol evidence rule which works in some circumstances, but not likely here.

[old curmudgeon]

It is totally incorrect that oral contracts are not good.

North Carolina law recognizes oral contracts. It is correct that it has to be more than “he said, she said”.

Supporting documents, chain of events that reflect past business practice between two parties, etc.

I know. I recently won a rather large case based on oral contract.

However, where I suspect Citigroup is dead in the water is that the WB stockholders had to approve their buyout and have not done so. Therefore, it was not a done deal.

Further, there is no way a WB stockholder will take their deal now that WFC has made this offer.

If City runs it in the ground, all that will happen is that the WB stockholders will vote to reject them and then vote to accept the WFC offer.

So someone is off the track.