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Contracts are governed mainly by state law, general (judicial) law and private law (i.e.dem private contract). Private law in principle includes contractual conditions between parties exchanging commitments. This private right can put an end to many of the rules that are otherwise set by state law. Legal laws, such as fraud status, may require certain types of contracts to be concluded in writing and executed with particular formalities for the contract to be applicable. Otherwise, the parties can enter into a binding agreement without signing a formal written document. For example, the Virginia Supreme Court told Lucy v. Zehmer that even an agreement reached on a piece of towel can be considered a valid contract if both parties were reasonable and showed mutual agreement and consideration. A tacit contract [13] is a contract in which the consent of the parties is indicated by their conduct. other acceptable ways to describe an implied contract; a contract in which the performance of the parties concludes to an agreement. The parties give their consent to a contract by their actions and not by a promise. As a rule, a minor is not able to conclude an enforceable contract. A contract concluded by a minor may be terminated by the minor or his guardian.

After reaching the age of majority (18 in most countries), a person always has a reasonable period of time to terminate a minor`s contract. If the treaty is not terminated within a reasonable period of time (set by the law of the State), it is considered ratified, making it binding and enforceable. The contracting parties must have a mutual understanding of what the treaty covers. For example, in a contract for a “smartphone”, the buyer thinks that he will receive an iPhone 4, and the seller also thinks that he will sell the same thing according to the buyer`s request, and then a contract is maintained. However, if the buyer thinks they will receive an iPhone and the seller thinks they are entering into a contract for the sale of a Samsung Galaxy SII, there is no meeting of heads and the contract will probably not be enforceable. It can be very difficult to prove that there is an oral contract. In the absence of proof of the contractual terms, a party may not be able to enforce the contract or settle for less than the original transaction. Even if there is no possibility of establishing a formal contract, it is therefore a good practice to always make a type of writing signed by both parties to keep in mind the main conditions of an agreement. At the same time, if the terms of an oral contract can be proven or recognized by the other party, an oral contract is in most cases as enforceable as a written contract. .

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