If the parties reduce their contract to the written form, all hearings and agreements are in writing, and the instrument must be treated as if it contains the entire contract and the evidence is not admissible to change its terms. See Gage v. Phillips, 21 Nev. 150, 26 p. 60 (1891). Many people often refer to an oral agreement as an oral contract. This means that you enter into a binding agreement without recalling it in writing. While this type of contract can be as valid as any written agreement, complications often arise when someone else accuses someone of violating it. Some basic facts about orally promised contracts are that a contract is in fact simply an agreement between two or more parties in order to create legally enforceable obligations between them. It is not necessary to write it down (and, indeed, if someone signs what is commonly called a ”contract”, they really only sign the letter that attests to the contract). Traditionally, the common law has required only mutual consent (in the form of offer and acceptance) and consideration (there must be some exchange of value between the parties; unpaid commitments are generally not legally enforceable). In the absence of evidence that Motor Hotel had been sold to the defendant, that the defendant had undertaken by the seller of leased land on the direct wire reservation panel and on the applicant`s air terminal, the applicant could not recover from the defendant on the basis of a favourable third-party agreement.
See Lucerne Motor Hotel Corporation v. Airways Intern. Reservations Corp., 82 Nev. 11, 403 p.2d 622 (1966).