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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