What are the differences between written and verbal agreements?

What are the differences between written and verbal agreements?

Written agreements are formal and legally binding, while verbal agreements are often informal and harder to enforce.

Can you give me examples of each type of agreement?

Sure! A written agreement could be a signed contract for a job, while a verbal agreement might be a handshake deal between friends.

Which one is more reliable?

Generally, written agreements are more reliable because they provide clear evidence of the terms agreed upon.

What should I include in a written agreement?

Include the parties involved, the terms of the agreement, payment details, and signatures to make it enforceable.

Are there situations where verbal agreements are acceptable?

Yes, verbal agreements can be acceptable in informal situations or when trust exists, but they are riskier.