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
The numerical value of oral contract in Chaldean Numerology is: 6
The numerical value of oral contract in Pythagorean Numerology is: 5
Images & Illustrations of oral contract
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, 2017. Web. 27 Apr. 2017. <http://www.definitions.net/definition/oral contract>.