What type of agreement does NOT need to be in writing to be valid?

An express agreement does not necessarily need to be in writing to be valid, as it can be formed verbally or through the actions of the parties involved. The essence of an express agreement lies in the clarity and explicitness of the terms agreed upon by the parties, which can occur without any written documentation. This type of agreement is valid as long as the parties can demonstrate their intent to agree, and both have a meeting of the minds regarding the terms.

In contrast, a formal contract typically requires specific formalities, including written documentation and often signatures, to ensure its validity. A lease agreement, particularly those longer than one year, is generally required by law to be in writing to be enforceable. An implied agreement arises from the actions or circumstances surrounding the parties’ interactions, suggesting a consensus absent of written or explicit verbal communication; however, it might not hold up as strongly in a legal context compared to express agreements.

Understanding the nature of express agreements is critical, particularly in real estate transactions, where verbal agreements can lead to disputes if the terms are not clearly documented.