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12 . 08 | Insights

Are oral agreements enforceable?

Yes, an oral agreement that is not put into writing is still enforceable. However, numerous clients have come to our offices based on disputes that arise from a handshake deal gone wrong. Although an oral agreement is equally enforceable as a written agreement, a written agreement that evidences deal points is incredibly important if people disagree later about what the agreement was or who bore the risk of something happening or not happening. A document evidencing the important points of the deal is also far more reliable than someone’s memory. So, although a formal agreement is often best, at the very least you should send a simple email to memorialize deal points to memorialize an oral agreement.omething to keep in mind is that the statute of limitations, which is the time you have to file a lawsuit, differs between a written agreement and an oral agreement. The statute of limitation for the breach of an oral agreement is 2 years from the date of the breach. The statute of limitation for the breach of a written agreement is 4 years from the date of the breach. Something to keep in mind is that the statute of limitations, which is the time you have to file a lawsuit, differs between a written agreement and an oral agreement. The statute of limitation for the breach of an oral agreement is 2 years from the date of the breach. The statute of limitation for the breach of a written agreement is 4 years from the date of the breach.

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