Definitions for oral contract
This page provides all possible meanings and translations of the word oral contract
an agreement that is not in writing and is not signed by the parties but is a real existing contract that lacks only the formal requirement of a memorandum to render it enforceable in litigation
An oral contract is a contract the terms of which have been agreed by spoken communication, in contrast to a written contract, where the contract is a written document. There may be written, or other physical evidence, of an oral contract – for example where the parties write down what they have agreed – but the contract itself is not a written one. In general, oral contracts are just as valid as written ones, but some jurisdictions either require a contract to be in writing in certain circumstances
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"oral contract." Definitions.net. STANDS4 LLC, 2015. Web. 25 May 2015. <http://www.definitions.net/definition/oral contract>.