Oral Contract

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Dictionary Says

Definition of 'Oral Contract'

A type of business agreement that is spoken, not memorialized in writing. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding.  
Investopedia Says

Investopedia explains 'Oral Contract'

A famous example of the enforceability of an oral contract occurred in the 1990s when actress Kim Basinger backed out of her promise to star in Jennifer Lynch's film "Boxing Helena". A jury awarded the producers $8 million in damages. Basinger appealed the decision and later settled for a lower amount, but not before having to file bankruptcy.

Oral contracts are often mistakenly referred to as verbal contracts, but a verbal contract is really any contract since all contracts are created using language.
Search results for

'Oral Contract'

  • Series 66 Study Guide - Client Communication and Compensation ...

    http://www.investopedia.com/exam-guide/series-66/client-communication-compensation-issues/default.asp
    ... only oral advisory contracts. both oral and written advisory contracts. ... at
    least 48 hours prior to entering into an advisory contract. ...

  • Top 5 Ways to Protect Yourself Against Problem Renters ...

    http://financialedge.investopedia.com/financial-edge/1011/Top-5-Ways-to-Protect-Yourself-Against-Problem-Renters.aspx
    ... Rental Contract Most states allow contracts to be oral or written, but in the
    case of renting a written contract is essentially required. ...

  • Series 65 Study Guide - Client Communication and Compensation ...

    http://www.investopedia.com/exam-guide/series-65/communication-compensation/special-disclosure-requirements.asp
    ... Only oral advisory contracts; Both oral and written advisory contracts. The correct
    answer ... least 48 hours prior to entering into an advisory contract; Within 24 ...

  • Series 66 Study Guide - Client Communication and Compensation ...

    http://www.investopedia.com/exam-guide/series-66/client-communication-compensation-issues/investment-advisor-contracts.asp
    ... are required, the questions on the exam do reference oral contracts. ... SEC rules do
    impose the following conditions on a written investment advisory contract: ...

  • Series 65 Study Guide - Client Communication and Compensation ...

    http://www.investopedia.com/exam-guide/series-65/communication-compensation/investment-advisory-contracts.asp
    ... The contract must prohibit the IA from assigning the contract without the client's ...
    contracts are required, the questions on the exam reference oral contracts. ...

  • Renters' Guide: Tenants, Landlords And Types Of Leases ...

    http://www.investopedia.com/university/renters-guide/renters-guide1.asp
    ... Because a lease acts as both a conveyance and a contract, two sets of rights ... is created
    through a lease or rental agreement that can be either written or oral. ...

  • CFA Level 1 Study Guide - Ethics and Standards - Standard VI-C ...

    http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/standard-referral-fees.asp
    ... 15.12 Arbitrage; 15.13 Forward Markets and Contracts: Settlement Procedures;
    15.14 Terminating a Forward Contract Prior to Expiration; ...

  • Consumer Protection Laws You Need To Know

    http://www.investopedia.com/articles/pf/10/know-your-consumer-protection-laws.asp
    ... An express warranty is a promise from the seller, either written, oral or in an ... period
    where under certain circumstances, you might be able to void a contract. ...

  • CFA Level 1 Study Guide - Ethics and Standards - Standard IC ...

    http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/standard-misrepresentation.asp
    ... 15.12 Arbitrage; 15.13 Forward Markets and Contracts: Settlement Procedures;
    15.14 Terminating a Forward Contract Prior to Expiration; ...

  • Asset Protection For The Business Owner

    http://www.investopedia.com/articles/pf/08/asset-protection-business.asp
    ... Corporate principals have no personal liability for corporate debts, breaches of
    contract or personal injuries to third ... This agreement can be written or oral. ...

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