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Contract

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Contract

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
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  • March 27, 2018 at 9:36 pm #443942
    marine09
    Member
    • Topics: 13
    • Replies: 6
    • ☆

    Sir, How can an oral contract have value ? as if it goes to court, what is the proof that the parties have agreed as it was made verbally

    March 28, 2018 at 6:32 am #443952
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    As we say in the UK “An oral contract is not worth the paper that it’s written on”!

    If an oral contract is made it is most difficult to prove

    However, if there are witnesses to that oral contract, that would make it easier

    In addition, there have been cases where, in trying to establish the existence and terms of an oral contract, the plaintiff was able to show to the satisfaction of the Court that they would not have taken their actions were it not for the existence of the claimed oral contract

    And the Court accepted that as proof of the existence and terms of the contract

    OK?

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  • The topic ‘Contract’ is closed to new replies.

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