re: I'm calling it now. Vandy Beats Ole Miss.

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Not true at all. Having it in writing and signed just makes it easier to prove the deal existed. It also makes it harder to weasel out of a loophole that typical handshake/verbal agreements leave because they aren't so thorough or able to be proven.

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You need a signed writing to satisfy the Statute of Frauds, but that only applies to sale of goods five hundred dollars and over, real estate contracts, contracts that cannot be completed within one year, and contracts to pay the debt of another.

But yeah there are issues with proving that an oral contract existed absent witnesses to the formation.