Q.A orally agrees to sell his bicycle to B for ₹3,000, and B pays the price and takes the bicycle. Is this a valid contract even though nothing was put in writing?
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Start your 14-day free trial to unlock the full solution →The Indian Contract Act does not, as a general rule, require an agreement to be in writing to be valid — an oral contract is just as binding as a written one, provided it satisfies all the other essential elements (lawful offer and acceptance, consideration, capacity, free consent, lawful object).
Legal formalities (writing, registration, or attestation) are required only where a specific law demands them for that particular kind of transaction — for example, the sale or mortgage of immovable property must, under the Transfer of Property Act, be by a registered instrument. A sale of a movable item like a bicycle carries no such requirement. …
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