An unwritten contract that the Statute of Frauds requires to be evidenced in writing is still valid and it is merely unenforceable by the courts.

Statute of Frauds

A legal principle requiring certain contracts to be in writing and signed by the parties involved to be enforceable.

Unenforceable

A term used to describe a contract or clause that cannot be legally enforced or compelled in a court of law.

Valid

Having legal force, or being legally binding and enforceable.