Michael Rosenston is a fact-checker and researcher with expertise in business, finance, and insurance. Investopedia / Dennis Madamba The statute of frauds is a legal principle that requires certain ...

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A: Surprisingly, many oral contracts carry just as much legal weight as written agreements. Unless the law requires a written instrument, oral agreements are legally acceptable. But while most oral ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

It doesn't matter if it's typed or written by hand. Nor does it have to be any particular length. But for a business contract to be legally binding, it must contain six specific elements. As a ...