As a general rule, most oral agreements are every bit as enforceable as written contracts, provided all the elements required of a contract can be shown—offer, acceptance and the exchange of something of value (known as “consideration”). A party seeking to enforce an oral contract must also show that the other party voluntarily entered into the agreement, that the object of the contract was legal, and that the other party was of necessary age and mental capacity to enter into the contract.
Every state, including New Jersey, has what is commonly referred to as a “statute of frauds,” a written law that identifies those types of contracts that will only be enforceable if in writing. In New Jersey, the following types of agreements are covered by the statute of frauds:
At the office of Howard N. Sobel, we provide comprehensive legal counsel to businesses and business owners. Contact our office online or call us at 856-424-6400 to set up a free initial consultation.Evening and weekend appointments can be arranged upon request. We accept all major credit cards.
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