In general, oral contracts are just as valid as written ones, but some jurisdictions either require a contract to be in writing in certain circumstances (for example where real property is being conveyed), or that a contract be evidenced in writing (though it may be oral). An example of the latter being the requirement that contract of guarantee be evidenced in writing that is found in the Statute of Frauds.
Similarly, the limitation period prescribed for an action may be shorter for an oral contract than it is for a written one.
The term verbal contract is sometimes incorrectly used as a synonym for oral contract. However, a verbal contract is one that is agreed to using words, either written or spoken, as opposed to an implied contract.
International Contract Law - Choice-of-Law Analysis Applies When Signatory Nations Adopt Opposing Oral Contract Provisions under the CISG - Forestal Guarani S.A. V. Daros Int'l., Inc
Jan 01, 2011; The United Nations Convention on Contracts for the International Sale of Goods (CISG) governs contract formation between parties...
Supreme Court: contractors can enforce oral home-repair contracts: the high court looks to a recent revision in the Home Repair and Remodeling Act in holding that a contractor can enforce an oral contract against a homeowner.(K. Miller Construction Co. v McGinnis)
Nov 01, 2010; A home remodeling contractor who has entered into an oral contract for home remodeling, in violation of section 15 of the Home...