As a professional, I understand the importance of properly defining key terms in any article – and “oral contract agreement” is no exception.

An oral contract agreement is a legally binding agreement between two parties, which is made purely through verbal communication. It differs from a written agreement or contract, which is recorded in written form and signed by both parties.

Oral contracts are valid in most jurisdictions, but they can be difficult to enforce without tangible proof of the agreement. This is because it can be difficult to prove what was exactly said and agreed upon, and the terms of the agreement can easily be disputed by either party.

However, there are certain situations where oral contracts are preferred or necessary. For example, in business settings, oral contracts are often used in negotiations or for smaller deals that do not necessitate a full written agreement. Additionally, in some industries such as real estate, an oral agreement may be preferred if the transaction is simple and straightforward.

Despite their validity, it is always best practice to have a written agreement whenever possible. When dealing with significant transactions or contracts, it is highly recommended to have a written contract that outlines the terms and conditions of the agreement.

If a dispute arises over an oral contract agreement, the court will evaluate the evidence presented to determine the terms of the agreement. This may include witness testimony, emails or other written communication, and other physical evidence that can support the existence and details of the oral agreement.

In conclusion, while oral agreements can be binding and enforceable, it is always recommended to have a written agreement whenever possible. When dealing with significant transactions, be sure to have an experienced attorney review any oral or written agreements to ensure they are legally binding and in your best interest.