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Download article as a PDF. Construction contracts do not necessarily have to be in writing. All states in the U.S. have a law â generally known as a statute of frauds â that requires certain types of contracts to be in writing in order to be a legally enforceable agreement. As the name suggests, the statute is designed to prevent fraudulent claims, especially in the case of large contracts.
When it comes to business contracts, there are generally three different types: express, implied, and quasi-contracts. A contract is a legally enforceable agreement between two or more parties. In many cases, a contract is an actual written document, signed by both parties. But this is not always necessarily the case.ontract Formation. In the case of express and implied contracts, the legal effect of the agreement is the same. The difference between the two is the way in which the agreement is formed.