This is not to say that oral contracts should be opted for. A letter is always better and the costs and turbulence of trying to get a verbal agreement are quickly evident. Such useful clauses, such as the provision of arbitration and mediation or legal fees for the dominant party, may be included in a written contract and cannot be applied in an oral contract. 1622. All contracts may be oral, unless they are particularly prescribed by law. An oral agreement is as valid as a written agreement. The legality of an oral agreement cannot be questioned if it falls within the indecency of the requirements of paragraph 10 of the Indian Contract Act of 1872. Many oral agreements are considered legally binding, as is the case with a written contract. As long as they are valid, some oral contracts are enforceable, even if nothing is written.
There are some unique problems that can arise with oral contracts. A legal action is only a consequence of the breach of an oral contract. Others may include the implementation of arbitration or mediation, payment of legal costs, unauthed repair of a lawyer and loss of business contact, clients, friends, etc. To sue someone for breach of an oral contract, you must prove the existence of a binding agreement. There are four fundamental elements for a legally binding oral or written contract: also note that the law is in progress with regard to the applicability of the types of contracts created electronically. Given the power of the Internet and the amount of agreements, the fact that the age-old definition of a « letter » of electronic bonds has not been taken into account, and that the age-old definition of a « letter » of electronic bonds has not been taken into account, the following legislation has been passed in an attempt to address the problems: in addition, Section 92 of the Indian Evidence Act provides that if the terms of such a contract , the granting or any other provision of property or any legal provision in the form of a document has been demonstrated in accordance with Section 1. , no evidence of an agreement or verbal statement is allowed because between the parties to such an instrument or their representatives of interests for the purpose of contradiction, modification and to subtract from their conditions. However, its condition (2) makes it an exception, if there is a separate oral agreement on each subject in which the document is silent and the conditions inconsistent, the oral agreement can be valid.