Are Handshake Agreements Binding?

A Business Law FAQ with Mark A. Williams.

Handshake agreements are another way of saying a verbal contract or an oral agreement and, generally the answer is yes, they are binding. If you and another person agree to something and exchange some kind of consideration, somebody pays money or somebody does something, then generally that is enforceable and you can make them continue. Now there are a lot of exceptions to this depending on the size of the agreement and what it’s for, but generally when you agree with somebody that you are going to do something, you have to do it.

© 2014 Parsonage Vandenack Williams LLC

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