The answer – it depends. The general rule is that in order to be enforceable, contracts do not have to be in writing unless they are required to be in writing by law. So, what constitutes a contract?
The basic elements of a contract are:
- Offer – a party promises to do (or not do) a specified action in the future.
- Acceptance – another party explicitly accepts the offer in some manner, such as in writing, orally or performance. The acceptance must mirror the terms of the offer.
- Consideration – something of value is promised in exchange for the terms specified in the offer.
- Meeting of the Minds – the parties to the agreement understand and agree to the basic terms of the contract.
A contract can take many different forms. It can be one single written document, it can be a series of documents taken together, it can be handwritten, the result of a conversation, or transmitted via email, a website, carrier pigeon or otherwise. Continue Reading