Major Deals Sealed by a Handshake
MAJOR DEALS SEALED BY A HANDSHAKE
Many folks in the business world still admit that major deals are sealed by nothing more than a handshake. No contracts, no feuding lawyers, no fuss and outside the boardroom.
Sealing the deal with a handshake can be done for a variety of reasons. For some it may signal to the other party that, ``my word is my bond`` or ``let`s keep it simple`` or more importantly, ``we trust each other.``
Whatever the case parties that seal the deal with a handshake are definitely making a statement whether intentional or not and trust is the underlying factor.
I have discussed oral contracts and their legal effect in a previous post entitled, ``I want to borrow money from a friend. ``
While some parties may never encounter any problems based on an oral contract countless others have.
Whatever your business practices it`s a good idea to have something in writing to confirm the details of the arrangement.
Speak to a lawyer and inevitability he or she will likely advise that written confirmation is not only helpful but safe.
Even if it is as simple as an email confirming the details of the transaction it will be helpful in the event the business deal goes south or worse ends up in litigation.
If you think you require legal advice in the area of commercial litigation, civil litigation please call me, I am a lawyer practising in Mississauga serving Brampton, Oakville, Burlington, Milton and the greater Toronto area.
anytime for a free consultation