Question Details

	Username: PrettyWoman Rating: Asked to: Heng Kim Date Created: 19 Apr 2019
Category	28
Tag	Financial
Question	Please give the definition of Oral Contract.

Advice from Guru

Hello PrettyWoman,

An oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding. Oral contracts are often mistakenly referred to as verbal contracts, but a verbal contract is really any contract since all contracts are created using language.

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