An informal contract requires a special form to bind the parties to it.

Name: An informal contract requires a special form to bind the parties to it.
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Informal contracts, also known as simple contracts, do not require a special form to be binding. They can be verbal or written and do not have to follow any specific format. However, some contracts may need to be in writing in order to be enforceable, such as contracts for the sale of real estate or contracts that cannot be completed within one year.

An Informal Contract Requires a Special Form to Bind the Parties