A contract is an agreement between the parties that creates certain legal responsibilities. When a contract is concluded, the parties agree to do certain things or not to do so. As a rule, a contract can be concluded by an oral agreement or by a written document. An oral contract is an oral or oral agreement that can have legally binding consequences. Some contracts have a certain writing requirement. For example, a real estate lease is an execution contract because tenants agree to pay the rent until a specific date, and in exchange they get a place to live or do business. Aircraft rental, franchise agreements, rent-to-own contracts and time-sharing contracts are also examples of executable contracts. If the writing of the fraud status applies, the parties must draft the contract in writing. If you do not postpone your termination of the agreement, the other party may sue you to compensate for their losses. It can be difficult to write a real estate sales contract, also known as a purchase and sale contract, without instructions. For example, a company could sign an emergency contract with a freelance graphic designer to produce five packaging designs, and if these get the agreement of the stakeholders, the graphic designer will then work as part of a retainer agreement to provide more services to the company. .