In order to be contractually binding on the parties, an agreement:

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An agreement can arise by implication as a result of the conduct of the parties, meaning that the actions of the parties can indicate that they have entered into a binding agreement. While it is always advisable to have a written contract signed by both parties, it is not always necessary for an agreement to be binding. Verbal agreements can also be enforceable in certain circumstances.

In Order to Be Contractually Binding on the Parties, an Agreement