oral agreements

An oral agreement is a spoken understanding between two or more parties about a specific arrangement or transaction. Unlike written contracts, it is not put into writing, but it is still legally binding if it meets certain standards, such as clarity and mutual consent. Oral agreements are common in everyday life, like agreeing on a price for a service. However, they can be harder to prove in a dispute because there's no physical record. Some types of agreements, such as real estate transactions, are required by law to be in writing to be enforceable.