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the following BL TV program is brought to you by OFlaherty law please enjoy welcome to learn about law my name is Kevin o Flaherty from OFlaherty law and today were going to answer the question of when is a contract valid if its not signed by both parties so lets start with some basic principles here oral contracts are contracts they are exceedingly hard to prove but an oral contract can be valid what even if its never reduced to writing so a contract requires offer acceptance and consideration consideration is just the exchange of value between both parties if all of those 3 things are present you dont even need a contract to be in writing to be valid except there are certain types of contracts which we discuss in more detail learn - about - law comm that fall within something called the statute of frauds and the statute of frauds requires that contracts of a certain type and theres a list of about seven different types of contracts need to be in writing in order to be valid a