To be valid and enforceable, a contract must be in the form required by law. All contracts have to be in writing. Oral contracts can be just as valid and enforceable as written contracts. How�ever, the law requires that certain contracts must be in writing in order to be enforceable by a Court. The state statutes that require certain contracts to be in writing are called statutes of fraud. Statutes of fraud require that either the contract itself be in writing and signed by both parties or there must be a sufficient memorandum of the agreement signed by the party being sued for breach of contract.
Confirmin oral amendment Amendment to agreement—Confirming oral amendment AMENDMENT TO PARTNERSHIP AGREEMENT Agreement made [date of amendment], between [name of partner 1], of[address of partner 1], and [name of partner 2], of [address of partner 2] (the “partners”). RECITALS A. Partners are parties to a partnership agreement dated [date of agreement], creating the [name of partnership]. That agreement is attached as Exhibit[designation of exhibit] and incorporated by this reference. B. On [date of oral amendment], by oral agreement, the terms, conditions, and provisions of the written agreement were amended as set forth below, retroactive to [effective date of amendment]. C. The parties now desire to confirm the oral amendment of the partnership agreement and reduce it to writing. In consideration of the matters described above, and of the mutual benefits and obligations set forth in this agreement, the parties agree as follows: The partnership existing between the parties under the firm name of [name of partnership], and under
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