Yes. Generally speaking, oral contracts are enforceable contracts, just the same as written contracts, but there are important exceptions. Here are some of the major exceptions where parties will not be bound by oral contracts:
1. Contracts that can't be performed in one year must be in writing. For example, if Mr. A hires Mr. B to work at his company for two years, the employment contract must be in writing.
2. Contracts for the sale of real property. If Mr. A wants to sell his house to Mr. B, the contract must be in writing.
3. The Uniform Commercial Code provides that contracts for the sale of goods for over $500 must be in writing.