A Simple Misunderstanding Can Make Your Entire Deal Invalid

From my experience, most small business people rely on handshake agreements for their business deals. Most of us played “telephone” when we were children, so I’m sure it is easy for you to see how the parties to a deal can easily have a misunderstanding if they only rely on verbal communication.  But did you know that, except for certain exceptions, if there is such a misunderstanding among the parties between what is ‘offered’ and what is ‘accepted’ then the entire handshake agreement becomes invalid?! That means if one of them suffered an injury, (s)he will have absolutely no recourse in court.  This 2 min video explains what you need to do to avoid this pitfall.

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Posted on September 15, 2015 and filed under Contracts and Negotiation.