There Was No Signed Agreement

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The most common scenario is when nothing is written. If no document is available, the parties have concluded an oral contract. Oral contracts that do not violate the Fraud Act are enforceable in Virginia. [1] Contracts that must be written under the Fraud Act include contracts involving the sale of real estate, a lease of more than one year, a service contract to be performed over a period of more than one year, or a loan of $25,000.00 or more. [2] E-21 Engineering also teaches that taking office without a signed contract may lead a party to conditions that it has not necessarily accepted. In other words, taking up office without a written contract can be considered as an acceptance of contractual conditions proposed unilaterally. George Pridemore & Son., Inc. vs. Traylor Brothers, Inc., 311 p.W.2d 396 (Ky. .