According to the law, a promise is usually only enforceable if it is made in exchange for something. This legal concept is called „consideration“. This means that both sides have to give up something valuable for the agreement to be implemented. As you probably know, there is a legal difference between a cordial promise and an enforceable treaty. A kind of law known as the Fraud Act requires that certain promises (e.g., .B. to exchange goods or perform tasks) be written to be legally enforceable. A legally binding contract is used for trade agreements. When presenting business contracts, you often expect volumes of legal language with seals, when, in reality, a handwritten contract can have the same binding effect. When most people think of a contract, they usually think of a formally typed and professional contract. It turns out that, although they are not used too often today, a handwritten contract can be as valid as a contract that is typed. The short answer is yes.
Handwritten contracts are not practical if you could simply enter them, but they are completely legal if they are properly written. In fact, in many ways, they are even preferable to oral contracts. Under customary law, writing an agreement is not necessary to make it legally binding. An informal agreement, as concluded orally, is mandatory if it contains all three components. Seals are not necessary. .