Q&A: Am I bound to a contract/agreement if there is no signature?

Question by Michael K: Am I bound to a contract/agreement if there is no signature?
Just wondering since I had to cancel a service at the last minute not knowing there was a cancellation policy. I never signed anything nor was it spelled out.

Best answer:

Answer by open4one
It depends. Sometimes a signature isn’t necessary, a phone order can establish a contract. It just depends on if the contract is of the kind that does require a signature, such as a credit arrangement, real estate transaction, or long term contract (one that can’t be performed within a year).

Know better? Leave your own answer in the comments!