oral contract
- n an agreement that is not in writing and is not signed by the parties but is a real existing contract that lacks only the formal requirement of a memorandum to render it enforceable in litigation
oral contract :
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- Tax Court Sides with IRS Employee and Overrules IRS
Even IRS agents can make simple mistakes in business, such as violating the old adage to "put it in writing." Even so, the Tax Court in a recent case believed the IRS agent's testimony regarding an oral contract she had with her mother-in-law.
July 30, 2013 - Accounting Today