Accepting deals with just a handshake?

[Grant]

Would you ever accept a business deal with just a handshake and a verbal agreement? I think this is a dumb way to do a business deal, but I hear some people do this. I want everything on record when I make a deal with anyone. Don't you? How do you accept deals? With a handshake? Do you sign papers and all that?

 

[Good-Person]

Would you ever accept a business deal with just a handshake and a verbal agreement? I think this is a dumb way to do a business deal, but I hear some people do this. I want everything on record when I make a deal with anyone. Don't you? How do you accept deals? With a handshake? Do you sign papers and all that?

Big companies and multinational organisations may never consider this, as they prefer accepting deals and agreements after they sign a real contract. They consider working with each other in the best possible manner and discuss the business deal from every angle. However, small businesses may not necessarily prepare a written agreement.

 

[Kane]

It depends on the type of deal and the amount of money involved. When you do not have everything in black and white, chances are there that your client might walk out of the contract and thus making you lose money. However, if you are working with someone you know personally and if you have done a business with this person multiple time and the money involved is not very big, I think it is ok to accept the deal with just verbal agreement.

 

[Good-Person]

It depends on the type of deal and the amount of money involved. When you do not have everything in black and white, chances are there that your client might walk out of the contract and thus making you lose money. However, if you are working with someone you know personally and if you have done a business with this person multiple time and the money involved is not very big, I think it is ok to accept the deal with just verbal agreement.

Verbal agreements and contracts are a norm. There are many people who engage in businesses with their cousins, friends, and many other people. They do not create an agreement in a written form. This may be due to the fact that they might trust their partners in the first place.

 

[Heatman]

Any business agreement that is not written and duly signed by both parties is not official and I am not the kind of person that is going to be able to accept that kind of business arrangement. This is because you can be denied at any point in time which you cannot lay any claims on the existence of such business agreement.

 

[Frank]

Would you ever accept a business deal with just a handshake and a verbal agreement? I think this is a dumb way to do a business deal, but I hear some people do this. I want everything on record when I make a deal with anyone. Don't you? How do you accept deals? With a handshake? Do you sign papers and all that?

It is pretty risky and not the approach that I will feel comfortable taking. I would want to be in a situation where, after investing a lot of money in a deal, the other party can wake up and renege on the deal verbally agreed.

 

[Heatman]

It is pretty risky and not the approach that I will feel comfortable taking. I would want to be in a situation where, after investing a lot of money in a deal, the other party can wake up and renege on the deal verbally agreed.

It is never going to work in your best interest whenever you are accepting a business contract over just a handshake or even a verbal agreement. There is nothing that is tying any party to that kind of contract and it can be waved off easily because you don't have anything to make it officially binding to anyone.

 

[Timgab]

Truly I do this sometimes depending on the kinda deal.

 

[glitch]

With family and friends, yes in most cases this is fine but with people I am not familiar with... Not a chance. I want a written contract.

 

[Frank]

With family and friends, yes in most cases this is fine but with people I am not familiar with... Not a chance. I want a written contract.

Even with family members, you should set up a contract that should be signed. Research has shown that no one pulls a business down more than family members, and that is one thing that you need to have in mind before deciding to do any business without a written contract.

 

[Good-Person]

Any business agreement that is not written and duly signed by both parties is not official and I am not the kind of person that is going to be able to accept that kind of business arrangement. This is because you can be denied at any point in time which you cannot lay any claims on the existence of such business agreement.

Shaking hands is seen as a great compliment and this is a good gesture. It is a really important thing at the end of the meeting. Having said that, shaking hands should be done along with other important things as well. This also involves completing other kinds of formalities as well that are necessary.

 

[Heatman]

Shaking hands is seen as a great compliment and this is a good gesture. It is a really important thing at the end of the meeting. Having said that, shaking hands should be done along with other important things as well. This also involves completing other kinds of formalities as well that are necessary.

I believe that there is nothing wrong with complimenting anyone you are into any kind of business meeting or arrangement with but when it comes to agreeing on a personal business contract, you definitely have to make sure that you signed everything so that it doesn't turn out to become a very big misunderstanding when someone decides to go against the agreement because it was not signed.