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General Partnership Agreements


8. Oral Agreements
Although some oral agreements are enforceable under the law, they are often difficult to prove and are easily debated in court.

Some agreements MUST be in writing in order to be legally enforceable. The following types of agreements unenforceable unless they are in writing:
  • Real estate sales
  • Agreements to pay someone else's debts
  • Agreements that take longer than one year to complete
  • Real estate leases for longer than one year
  • Agreements for over a certain amount of money (typically over $500)
 
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