Have you ever entered into a verbal business contract?

[Good-Person]

There are many people who emphases a lot on written contracts. This is a very important thing because such kind of contracts may hold some kind of legal value. However, what are your thoughts about verbal contracts formed by business parties?

 

[Kane]

I once was running a restaurant and it was a partnership business. The restaurant was registered in the names of three partners but other than the registration document, we did not have any kind of partnership agreement. Out contract was verbal. Thankfully, we never encountered any issues.

 

[Ja sa bong]

Verbal business contract doesn't exist in my business arrangement. If any business contract I want to reach an agreement for isn't getting signed on the dotted lines, I will not go into such business contract.

 

[Heatman]

There is no way I am going to be stupid enough to go into any kind of business contracts on a verbal note. This is because I know it is something that can be denied when the arrangement is no longer favouring one of the parties in such contract. People need to be very careful in how they do some certain things about entering a contract on any kind of business.