"Contracts Must Be in Writing to Be Enforceable

question 89

Essay

"Contracts must be in writing to be enforceable." Discuss the accuracy of this statement.

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Definitions:

Rebate

A return of part of the original payment for some service or merchandise, serving as a discount or reduction after the purchase.

Void Contract

refers to an agreement with no legal effect from the beginning due to an illegal purpose or violation of a mandatory statute.

Voidable Contract

A legal agreement that is valid and enforceable on its face, but can be declared void by one or more of the parties for certain legal reasons.

Contract Formation

The process by which parties' agreement reaches the point where a legally binding contract is established.