What is required when obtaining written consent from parties in a transaction?

The requirement for obtaining written consent in a transaction emphasizes the importance of clear and mutual agreement between the parties involved. Documenting the consent with both signatures serves multiple purposes: it establishes a formal record of the agreement, satisfies legal requirements, and provides evidence that all parties have acknowledged and accepted the terms outlined in the document.

Having both signatures on the consent form ensures that each party is not only aware of the consent being granted but also affirms their agreement to the terms. This written documentation can be crucial in the event of disputes, as it provides clarity about the intentions and commitments made by each party.

In contrast, the notion that consent must be verbalized first does not align with the practices governing written agreements; written consent is typically expected without requiring prior verbalization. Notarization, while it can add an additional layer of verification, is not universally required for all written consents. Additionally, stating that there is no need for documentation disregards the fundamental principle of having written contracts to protect the interests of the parties involved and uphold the enforceability of the agreement.