What is a “contract” and must it be in writing?
A. A contract is an enforceable promise, and it need not be in writing. Oral contracts are enforceable, although proving what the agreement was is more difficult without a signed writing. The usage in your local trade and the course of business dealing between the parties can add implicit terms to explicit contracts. Some contracts must be in writing to be enforceable–typically agreements not to be performed within one year, concerning real estate, or for the sale of good for more than $500.
