Verbal contracts may be legally binding in Georgia. The typical problem in enforcing such a contract is proving the terms of the agreement between the parties. Without a writing, that may be very difficult to do, as you'll say the terms were one thing, and the other party will assert there were different terms, or no contract at all.
It depends on a number of details that were not in your question, but generally if you have mutual assent, consideration and no defenses to formation then a verbal contact can be a valid contact in the State of Georgia.
And one of the ways to prove the terms and conditions of a verbal contract is if there were witnesses to the oral agreement being made. Your witnesses can testify that this is what you discussed with the other guy. Florida has the same rules about the Statute of Frauds: an oral contract cannot be enforced if it's for a value of more than $500, for a service that could be expected to take longer than 1 year to perform, or for a real-estate transaction. The only way to defeat the SoF is if you wrote a check, and the other guy deposited the check and substantially began to perform on the contract in reliance that there was a meeting of the minds.
