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<blockquote data-quote="Steel_Wind" data-source="post: 5197532" data-attributes="member: 20741"><p>Correct. For a contract to be formed under the common law, you need an offer, acceptance and consideration moving from one party to another. </p><p></p><p>A deal on just a handshake is a binding contract. They are made every day -- several of them during the time you took to read this post. They are enforced -- every day -- by our courts. </p><p></p><p>Evidence in writing is simply that: evidence in writing. <em>Viva voce</em> evidence (oral evidence in court) if accepted by a court is equally as binding. But is DOES throw matters as to what would be otherwise clear(er) if reduced to writing into doubt, and above all, increases expense and uncertainty in litigation. Often -- people don't like that. Almost just as often, they do it anyways.</p><p></p><p>There is no legal requirement that an enforceable agreement be reduced to writing: exception, by way of example, in many jurisidctions there IS a requirement that a contract in relation to land be in writing, but this is a specific exception created by the <em>Statute of Frauds</em> or similar legislation in your jurisdiction. </p><p></p><p>When in doubt, consult a lawyer authorized to practice law in the jurisdiction where you reside.</p></blockquote><p></p>
[QUOTE="Steel_Wind, post: 5197532, member: 20741"] Correct. For a contract to be formed under the common law, you need an offer, acceptance and consideration moving from one party to another. A deal on just a handshake is a binding contract. They are made every day -- several of them during the time you took to read this post. They are enforced -- every day -- by our courts. Evidence in writing is simply that: evidence in writing. [I]Viva voce[/I] evidence (oral evidence in court) if accepted by a court is equally as binding. But is DOES throw matters as to what would be otherwise clear(er) if reduced to writing into doubt, and above all, increases expense and uncertainty in litigation. Often -- people don't like that. Almost just as often, they do it anyways. There is no legal requirement that an enforceable agreement be reduced to writing: exception, by way of example, in many jurisidctions there IS a requirement that a contract in relation to land be in writing, but this is a specific exception created by the [I]Statute of Frauds[/I] or similar legislation in your jurisdiction. When in doubt, consult a lawyer authorized to practice law in the jurisdiction where you reside. [/QUOTE]
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