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Featured legal information article. -- Know When To Get An Agreement In Writing. Although most people believe that it is always necessary to get any agreement in writing, there are cases where a verbal agreement is legal and valid. However, since there are just as many instances where a written agreement is necessary or, at the very least helpful, it is a good idea to know which situations call for which types of agreements. The general rule of thumb for deciding if a contract needs to be in writing is determined by the nature of the contract. For example, any agreement that is related to your business, large personal assets such as your home and contract work that will take over a year to complete should be written down in a contract and made binding. However, an agreement that involves a low amount of financial risk, is between family members or is not necessary as part of your daily business can be verbally contracted. The disadvantage to any verbal agreement, however, is the fact that they can be hard to enforce. See Know When To Get An Agreement In Writing for the complete article.
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