Nc Laws On Agreement

While oral and written contracts are generally treated equally by North Carolina law, some types of oral agreements do not have a legal position in the state, including land sale and lease agreements, commercial loan agreements worth more than $50,000, promises to repay debts already alleviated by bankruptcy, sales of property valued at $500 or more, and agreements to repay another party`s debt pursuant to Chapter 22 of the North Carolina Code. Email exchange is an efficient and effective way to deal with multiple parties. Most lawmakers have recognized the growing reliance on electronic communications in business and have passed laws facilitating the inclusion of such messages in enforceable agreements. North Carolina is one such state (North Carolina Statutes General 66-311, etc.).