Is a written contract needed if using Escrow.com

[Truthman]

I am in the process of negotiating the purchase of a generic domain, I am the buyer. We would be using escrow.com. Is there any reason why we would need a written contract? There are no trademarks/copyrights involved. As I understand the record at Escrow.com of a completed transaction is enough legal proof that the ownership of a domain has been transferred legitimately. It is a plain cash for domain deal.

Thanks

 

[Fewski]

I wouldn't think so, but if your paying a high amount for it then I would take every procoshion (SP?) you can. Make a little contract up and fax it to him.

 

[fonzie_007]

No, however, it does not hurt to have all material items of the sale written up in a contract.

 

[DNQuest.com]

If it is a big sale, I would do a contract or at least some communication where it is clear that a deal was made and accepted wtih consideration. It doesn't have to be fancy, just get the 3 componenets and you are ok.

 

[Truthman]

Thanks, yeah, I have never used/needed a contract before, but this deal is bigger than my previous ones, so I am being more careful... I will see if I can cook up some kind of contract.