VERBAL AGREEMENTS -Verbal agreements, which can be as legally binding as written contracts, require the accurate
and fair memory of all parties. Many times there is a dispute over what was agreed.
SHOULD THE OTHER PARTY DISPUTE THE AGREEMENT -
You might have nothing, and no one, to substantiate your claim should the employee who
negotiated the verbal agreement leave your company. An unresolved disagreement can end
up in court, ultimately, destroying your business relationship.
The court may rule in favor of the other party and award you an amount lower than the original
agreement--- or nothing at all. You may have fines and penalties imposed, along with having
to pay filing costs and attorneys fees, in addition to losing valuable time from work.
In business, you can't just cross your fingers and hope that nothing bad ever happens.
Data Exchange, Inc. 8147 E. 63rd Pl Tulsa, OK 74133-7302 888 458-4878
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