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Oral contracts are spoken agreements. Agreements that are not in writing may sometimes be binding. There are certain limitations on the enforceability of oral employment contracts that do not exist for written employment contracts.
Some contracts are an exchange of promises. In Virginia, as in most states, contracts can also come in many different forms. For example, you can have a valid and enforceable oral contract or written contract.
A gas sale agreement (GSA) is the key agreement documenting the sale and purchase of a quantity of natural gas. This standard document GSA provides for one seller and one buyer and is drafted from a neutral point of view.
Sometimes individuals or even businesses agree to enter into a contract orally. These agreements are generally enforceable in Virginia as long as they contain the basic terms of a contract: offer, acceptance, and consideration.
Technically, the answer is yes. Although the agreement is not in writing, you may be able to file a lawsuit if another party breaches a verbal contract. However, many oral contract cases turn into ?he said, she said? situations, which can be more challenging to prove than cases with clearly defined terms on paper.
The wholesale provider agrees to provide you with fuel at a specified volume and price. A typical fuel contract determines a set price per gallon for the amount of time agreed upon by both parties. Fuel prices may fluctuate during that time, but the price you pay stays the same due to the fuel contract in place.