Is a verbal contract binding?

[LoopaDaLoopa]

Consisting of offer and acceptance, made under no duress, witnessed by a number of third parties.

Usually, unless it comes under the distance selling regs.

You haven't included a part of the contract that is vital to its being binding: consideration: legal jargon for 'the price'. For it to be a binding contract under the circumstances you describe both parties have to be offering and accepting something.