Are all oral contracts valid?Return to Video FAQs
Maybe not all oral contracts, but oral contracts are valid. There’s no requirement for writing to have a contract. You only have to have an offer and an acceptance to have a contract. The problem with oral contracts is that they’re hard to prove because they’re not in writing. So what you want to do, even if you have a handshake deal with somebody, is quickly write them an email or a letter memorializing the deal after the fact so that if something goes wrong you can prove it some day, but there’s nothing inherently wrong with oral contracts just that they’re hard to prove.