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
Find a translation for the oral contract definition in other languages:
Select another language:
Discuss these oral contract definitions with the community:
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Use the citation below to add this definition to your bibliography:
"oral contract." Definitions.net. STANDS4 LLC, 2015. Web. 31 Jan. 2015. <http://www.definitions.net/definition/oral contract>.