I have heard that oral contracts are binding. Are they?

It depends on the type of contract created.  Some contracts, such as for real estate or contracts lasting over a year, must be written.  For other agreements, an oral contract may be binding.  You should contact a local contracts attorney to determine whether your contract needs to be written. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.