To be valid and enforceable, contracts must be in writing and signed by both parties.

Question

a. True
b. False

Answer 1

b. False

Not all contracts are required to be in writing or signed by both parties to be valid and enforceable. Many contracts can be oral and still legally binding, although certain types of contracts (such as those involving real estate or requiring a longer period to complete) may need to be in writing under the Statute of Frauds.