Question

how safe are oral contracts?​

Answer 1

Explanation:

An oral agreement is as equally valid, as a written one. The legality, of an oral agreement, cannot be questioned, if it falls under the ambit of the requirements stated in section 10 of the Indian Contract Act, 1872. This was substantiated by the Delhi High Court, in the case of Nanak Builders and Investors Pvt.

Answer 2

ᴀɴSᴡᴇʀ☇

✧ Oʀᴀʟ ᴄᴏɴᴛᴀᴄᴛ :-

An oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding. Oral contracts are often mistakenly referred to as verbal contracts, but a verbal contract is really any contract since all contracts are created using language .

✧ Hᴏᴡ sᴀғᴇ ᴀʀᴇ ᴏʀᴀʟ ᴄᴏɴᴛᴀᴄᴛ :-

Oral agreements are risky and not safe as one doesn’t know when anyone back out from his own words. So it is difficult to prove those specific words when a dispute arises. Therefore it is important that when making an oral agreement, one should be prepared for proving it in future. Both parties should make an evidence of their oral agreement so that it could be helpful to prove their own words. Because of its risky nature, oral agreements are debarred as an evidence under Section 92 of the Indian Evidence Act as a written agreement will always prevail over an oral agreement. The authenticity of written agreement will always be above than oral agreement .

ʜᴏᴘᴇ ɪᴛ ʜᴇʟᴘs ᴜʜʜʜ !