BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -This means that if a proposal or a promise is expressed by listing the terms in words – in writing or orally is said to be an Express Contract as long as it gets acceptance from the other party. The terms of the Express Contract are clearly stated either orally or in writing.

Detailed explanation-2: -Oral contracts are generally considered as valid as written contracts, although this depends on the jurisdiction and, often, the type of contract. In some jurisdictions, some types of contracts must be written to be considered legally binding.

Detailed explanation-3: -An express contract is an exchange of promises where terms by which the parties agree to be bound are declared either orally or in writing, or a combination of both, at the time it is made.

Detailed explanation-4: -Express Contract A contract is said to be “Express” if the proposal or acceptance of any promise is made in words, be it in the written or oral form.

Detailed explanation-5: -In India, both agreements, whether oral or written are valid and fall under the gambit of the Indian Contracts Act. Although as per law, an oral agreement is valid, but their enforceability comes to question in the event of a dispute.