oral contract

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Related to Orally binding: written contract
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Noun1.oral contract - an agreement that is not in writing and is not signed by the parties but is a real existing contract that lacks only the formal requirement of a memorandum to render it enforceable in litigation
agreement, understanding - the statement (oral or written) of an exchange of promises; "they had an agreement that they would not interfere in each other's business"; "there was an understanding between management and the workers"