FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/R7wrI57WaogjWdkpozaYZyV
Label Oral Agreement
Preferred Label Verbal Contract
Identifier N/A
Alternative Labels
Parol Contract Spoken Contract Verbal Agreement

Definition

An Oral Agreement is a contract or agreement that is spoken and not written, where the parties express their mutual intentions and promises through verbal communication. While enforceable in many legal contexts, proving the terms and existence of an oral agreement can be more challenging than a written one.

Class Relationships

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Parent Class Of 0

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Additional Information

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Notes

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Editorial Information

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Editorial Note

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Deprecated

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