Does a verbal contract hold?

My product has been received by the buyer, but payment not yet made or accepted. Initial payment was to be in kind for similar product, but since buyer has misrepresented method of their business practices, and have been exposed recently of indulging in unfair competition with other providers, I would like to either recall my product or be paid in cash for it. The exchange was not on written contract but decided based on trust which has been broken. Although never written down on a contract, can a verbal understanding hold its ground? can one use misrepresentation as one of the reasons for cancelling the contract?
Thanks,
Ruth

Your question is vague but let me reword it to make sure I do not misunderstand. You send something to a purchaser, but they have not sent you payment for said goods yet. Now, here is when you lose me. You state, "Initial payment was to be for similar payment in kind"--what does that mean? Does it mean you were swapping similar items? Or do you mean, Initial, the agreement was she was to pay for something SIMILIAR to the items you sent, but you substituted something else?

And "-but since buyer has misrepresented method of their business practices,"what does this mean and what does it have to do with the item you sent, or you substituting other items?

Basically for whatever reason you either 1. want your product back, or 2. Want to be paid in cash instead of receiving a 'similar product' as payment?

If you had an agreement stating I will give you this, and you will give me that, period, that is as far as you can enforce the contract. You cannot CHANGE the terms for any reason unless you state you are reserving the right to recall your items or ask for cash instead. I assume they never agreed to let you ask for cash, nor did they agree to returning your items.

Bottom line----you are bound by the terms of the verbal agreement---which was, as you stated here, product for product. Short of her refusing to provide you for the "similar product" you traded for as payment, you cannot sue her for breach of contract or change the terms at this point.

This is why verbal agreements are never a good idea. Stating now you disagree with her ethics, or business practices doesn't negate the terms of the original agreement.