|Contract in writing|
Certain contracs must be in writing if they are to be valid. These are (1) bills of exchange and promissory notes, (2) assignments of copyright, (3) contracts of marine insurance, (4) transfers of company shares, (5) hire purchase, credit sale agreements and conditional sale agreements under the consumer credit act 1974. In the last instance the contract is valid but normally unenforceable.
|Reference: The Penguin Business Dictionary, 3rd edt.|