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Are oral agreement and contract void under law?

In: Business Law, Contract Law [Edit categories]

Answer:

What I think you are trying to ask is whether oral agreements and oral contracts necessarily void under the law. Not necessarily.

If you are purchasing goods for $500 or more, or for real estate, agreements must be in writing or something called the Statute of Frauds applies meaning you won't be able to uphold what you agreed to in court. For all other contracts, your state law will apply, but general contract law holds that as long as there is an offer and and acceptance for consideration, you have a contract, and the law will respect that contract (unless it is for some illegal purpose).

Is it harder to prove an oral contract? Yes. Is it necessarily void? No.

First answer by ID1260533079. Last edit by ID1260533079. Question popularity: 3 [recommend question].

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