What are the different types of contracts?
An example of an AI chatbot conversation about types of contracts.
What are the different types of contracts?
There are several types of contracts, including verbal, written, express, implied, and unilateral contracts. Would you like to know more about any specific type?
Can you explain what a verbal contract is?
A verbal contract is an agreement made through spoken communication rather than written. It's legally binding but can be hard to enforce.
What about written contracts?
Written contracts are formal agreements documented in writing, which provide clear terms and conditions, making them easier to enforce.
Are there any risks with verbal contracts?
Yes, the main risk is that they can be difficult to prove in court, leading to disputes over the terms.
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