Why handshake deals can’t always be trusted | Enable blog
Summary
The handshake signifies an important step in establishing a mutual trust towards a long-term relationship when all is said and done. For it to be considered legally binding, someone needs to witness the agreement take place and there must be some sort of written follow-up confirming the details agreed upon. We have learnt from speaking with our customers, that for deals with a multitude of finer points, its always best to get your agreements in writing – so that each party is aware of their responsibilities. Lets shake on it, when used in a business context, can spell disaster for all involved: If one party intends a handshake deal to be legally binding and the other does not, a dispute is inevitable. While the parties testimony does frequently devolve into "he said, she said" arguments, any inconsistencies in one sides rendition of events is often a sign that they are either not being credible or are unreliable.
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