Contracts are often seen as legal agreements that must be in writing in order to be legally binding. However, there are some types of contracts that do not necessarily need to be in writing. In this article, we will explore which types of contracts do not need to be in writing according to Quizlet`s legal studies.
1. Verbal contracts
A verbal contract is an agreement that is made by spoken words rather than in writing. Verbal contracts are legally binding, but they can be difficult to prove in court. Therefore, it is recommended to have a written contract whenever possible.
2. Contracts with a low value
Contracts that are for a low amount of money or have a low value do not necessarily need to be in writing. The threshold for what constitutes a «low value» contract may vary depending on the state or country, but generally, contracts under $500 or $1,000 are considered to be low value.
3. Contracts that can be performed within a short period of time
Contracts that can be performed within a short period of time, such as less than a year, do not need to be in writing. This includes contracts for services or goods that can be delivered or completed within a short time frame.
4. Contracts that are not required by law to be in writing
Certain types of contracts are not required by law to be in writing. For example, a contract to buy a car may not need to be in writing, but it is recommended to have a written agreement for legal protection. Other examples of contracts that do not need to be in writing include leases for less than a year and employment contracts for at-will employment.
5. Contracts involving personal relationships
Contracts that involve personal relationships, such as marriage or dating, do not need to be in writing. However, it is recommended to have a prenuptial agreement in writing for legal protection.
In conclusion, there are several types of contracts that do not necessarily need to be in writing. However, it is important to note that having a written contract is recommended for legal protection and proof of agreement. It is also important to check with local laws and regulations to determine if a contract should be in writing.