ORAL AGREEMENT Meaning and
Definition
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An oral agreement, also known as a verbal agreement, refers to a type of contract that is made between two or more parties purely through spoken communication, rather than being documented in writing. In such an agreement, the terms and conditions of the contract are discussed and agreed upon orally, without any written evidence or formal documentation.
While an oral agreement may be legally binding in certain circumstances, it is generally considered less reliable and enforceable than a written contract. In the absence of any written record, the parties involved in an oral agreement may face difficulties in proving its existence or demonstrating the agreed terms accurately. Moreover, the lack of written evidence can lead to disputes or disagreements between the parties due to differences in memory or interpretation of what was agreed upon.
Oral agreements are commonly used in various social contexts, such as casual arrangements between friends or acquaintances. However, they also occur in professional settings, where parties may rely on verbal communication to create agreements, particularly for simple or immediate transactions. It is important to note that while some oral agreements may be legally valid, certain types of contracts, such as those involving real estate, are typically required by law to be in writing to be enforceable.
In summary, an oral agreement refers to a contract that is established through verbal communication, without any written documentation. While it can be binding under certain conditions, oral agreements are generally considered less secure and harder to enforce compared to written contracts.
Common Misspellings for ORAL AGREEMENT
- iral agreement
- kral agreement
- lral agreement
- pral agreement
- 0ral agreement
- 9ral agreement
- oeal agreement
- odal agreement
- ofal agreement
- otal agreement
- o5al agreement
- o4al agreement
- orzl agreement
- orsl agreement
- orwl agreement
- orql agreement
- orak agreement
- orap agreement
- orao agreement
- oral zgreement
Etymology of ORAL AGREEMENT
The word "oral" derives from the Latin word "ōrālis", which means "spoken or of the mouth". It is related to the Latin word "ōs", meaning "mouth". The term "agreement" comes from the Latin word "āgreementum", which is derived from "agreementis", referring to the act of coming to a mutual understanding between two or more parties. Therefore, the etymology of "oral agreement" relates to an understanding or arrangement made through spoken words rather than a written contract.
