partnership written agreement?

Can our partnership by oral agreement or will that not hold up if we are in court?

Does it have to be in writing?

Yes it can still be a valid partnership. But save all evidence, emails etc. of what you really agreed in case it comes down to your word against the partner's.

Best if possible to get it all set to writing and avoid any potential disputes or misunderstandings--at least as to major points.

[lifeguard]

You should put your partnership in writing and spell out what happens if your partnership falls apart. How assets are divided, who does contributes, and how. When a partnership goes bad it can be as bad as a bad marriage, so if you have everything written out it will spare the pain later. Partnerhip agreements are worth the money in saving heartache later.