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Stephen Widberg.
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Noah098
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Sir IFRS15 states that the contract between two parties does not necessarily has to be written. And on the other hand it also states that contract should have commercial substance, so then my doubt is that how can a contract have a commercial substance without actually existing on paper?
Stephen Widberg
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If I buy some sweets in the shop, I don’t require any written contract.
You would have looked at contract formalities in your law exam.
Noah098
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