The Challenge of Enforcing Verbal Agreements
Many cases in Chicago involve lawsuits that enforce verbal contracts, which often involve complex questions of breach of contract. But did you know that your chances of proving that a contract existed improve when you reduce your agreement to writing?
When Are Written Contracts Required? Understanding the Statute of Frauds
In some circumstances, specific statutes protect against contract claims without a writing. They include: contracts relating to land, guarantees, the sale of goods worth over $500, contracts that take longer than a year to perform, and contracts binding banks.
Exceptions to Written Contract Rules and Seeking Legal Counsel
But even in those cases, there may be exceptions, such as where one or both parties have begun to perform without a written contract. You might be surprised at how flimsy writings may suffice to meet this requirement. The rules and laws about this are sufficiently complex such that if you have a question, you should consult a lawyer. For proactive legal advice on drafting agreements and preventing business lawsuits, Contact Tom Patterson at tpattersonn@pattersonlawfirm.com.
