I'm not a lawyer, but it's my understanding that you don't need a formal contract to prove "breach of contract". Maybe a lawyer could chime in here and say whether or not that's true.

But back to your point -- who is going to do that? But could you imagine if the high dollar donors got together and had one legal representation. Could you imagine that getting dropped on Whit's & Co.'s desk? All these donors that have a handshake and a promise and VT decided to walk away. It would get interesting real quick...