Any agreement, contract, and promise shall be void, unless such agreement, contract, or promise, or some note or memorandum thereof, be in writing. Fully elaborated commercial contracts typically identify the governing law and specify the forum that would hear any dispute.A contract is a legally enforceable agreement so there has to also be the intention to create legal relations. The three most common efforts clause standards are "best efforts," "reasonable efforts," and "commercially reasonable efforts." The answer is real property consisting of, or improved by, more than 24 dwelling units. The property disclosure law applies only to residential real property. How can a text message become a legally binding contract? The general rule is that contracts do not need to be in writing. The exception would be the contracts falling under the statute of frauds. Boeing has spent over £12 billion in the UK supply chain since 2015.