Request for quotation has valuable function when its use is properly controlled. It works the best under framework agreements where the contract terms are already fixed.
[Reference: CIPS study guide page 3, LO 1, AC 1.1, ]
Question # 58
Is a verbal contract legally enforceable?
A.
Yes, a verbal agreement is just as legally enforceable as a written one
B.
Yes, but only if you have a witness at the time the verbal agreement was made
C.
No, only contracts in writing will be legally enforceable
D.
No, verbal contracts are never legally enforceable
A verbal contract is generally enforceable in law, provided that it contains all the necessary elements of a valid contract: offer, acceptance, consideration, intention to create legal relations, and capacity. However, certain types of contracts (e.g., for land) may require written form under the Statute of Frauds. Evidence and clarity are the challenges, not enforceability.
[Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 1, Section 1.1.2 – Types of contracts: verbal and written., , ]
