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