Why Are Written Contracts Useful?

If a problem arises, a written contract would offer proof of the agreed-upon terms and conditions between the people making the contract (parties). This may be beneficial in a court of law. With some exceptions, a court may not accept evidence about oral terms of the contract if there is a written contract that is…

Does A Contract Have To Be In Writing?

Not necessarily. However, if the contract is for your payment of another person’s debt[1], if it concerns real estate[2], if it lasts more than one year[3], or if it transfers property after death (i.e. a will)[4], it must be in a signed writing. [1] §§ 725.01 and 687.0304, Fla. Stat. [2] § 689.01, Fla. Stat.…

What Is A Contract?

A contract is an enforceable oral or written agreement between two or more people. The formation of a contract is accomplished when there is an offer and acceptance between the contracting parties and the exchange of “consideration” (that is, something of value).