Oral Contract
Categories: Regulations
Nothing to do with Oral Roberts. Totally different type of talkin'.
An oral contract is a legal reference. A contract can be legally binding if a few things are present in the discussion. Like..."I agree to buy this bike from you for $150 payable in cash tomorrow. Do you agree to sell it to me for this price under these terms?" (And we have a witness handy just in case any he said/she said things are going on here.)
If so, then you have an oral contract. Certainty around the deal, clarity around the terms and product being sold. You're done. The bike is yours for $150, whether you really wanted it or not. Now time to buy a seat.