Except for certain types of contracts that must in writing, no special form is required for informal contracts.

Question

Quizplus · Accepted Answer

Informal contracts, also known as oral contracts or verbal contracts, do not require any special form in order to be legally binding. However, contracts for the sale of goods over $500, contracts for real estate, and contracts that cannot be performed within one year must be in writing in order to be enforceable.

Except for Certain Types of Contracts That Must in Writing