One reason you may not need a written contract is:
A) you are dealing with a party you do not know well, so you need to remain flexible.
B) you are buying land from a member of your family.
C) the terms of the agreement are simple and the value of the transaction is small.
D) you have negotiated enough that you both know what the other person intends.

Question

Quizplus · Accepted Answer

When the terms of the agreement are simple and the value of the transaction is small, it may not be necessary to have a written contract. However, it is always advisable to have some form of written agreement, even if it is just a simple memorandum of understanding, to ensure that both parties have a clear understanding of their obligations and responsibilities.

One Reason You May Not Need a Written Contract Is