A contract is an agreement between two or more people to do (or not do) a specific thing. There must be a negotiated or bargained-for exchange, whether it’s an exchange of promises or acts.
In the early days of the movies, Sam Goldwyn, of the famous Metro Goldwyn Mayer studios, famously said, “An oral contract isn’t worth the paper it’s written on.” Most people believe that oral or spoken contracts aren’t real contracts and cannot be enforced. This is absolutely not true. While there are problems proving what the contract was really about, an oral contract is a real contract. The court is perfectly capable of making a decision about who’s telling the truth and who’s not.
Do You Really Have a Contract?
How do you know that you really ...