Hi all,

In the video lecture Dr.Simon mentioned about two terms of contract,Written & Verbal agreement. He said that verbal contract can be legal but what if the due to dispute or other reason the verbal agreement turns to failure. Is there any significant difference between Verbal Agreement & Oral Agreement? How much one should rely on verbal agreement? Is it good to start working on a project just based on verbal Agreement? What are the importance of Written agreement?

If anyone of you had an experience regarding to those questions please share.