Definitions for oral contract
oral con·tract

Princeton's WordNetRate this definition:0.0 / 0 votes

1. oral contractnoun

   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

WikipediaRate this definition:0.0 / 0 votes

1. Oral contract

   An oral contract is a contract, the terms of which have been agreed by spoken communication. This is 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 (for example where real property is being conveyed), or that a contract be evidenced in writing (although the contract itself may be oral). An example of the latter is the requirement that a contract of guarantee be evidenced in writing, which is found in the Statute of Frauds. Similarly, the limitation period prescribed for an action may be shorter for an oral contract than it is for a written one. The term verbal contract is sometimes used as a synonym for oral contract. However, since the term verbal could also mean just using words, not only spoken words, the term oral contract is recommended when maximum clarity is desired.

ChatGPTRate this definition:0.0 / 0 votes

1. oral contract

   An oral contract is a type of business agreement that is spoken, not written, and it is usually based on verbal communication and acclamation between the involved parties. It is as legally binding as a written contract but significantly more challenging to enforce due to the lack of concrete evidence if a dispute arises. It includes all the elements of a valid contract which are offer, acceptance, consideration, mutuality of obligation, competency and capacity.

WikidataRate this definition:0.0 / 0 votes

1. Oral contract

   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

Matched Categories

1. • Agreement

How to pronounce oral contract?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say oral contract in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of oral contract in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of oral contract in Pythagorean Numerology is: 5

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=oral contract
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Oral_Contract
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=oral contract