1. Examples

2. See also

3. References

A handshake deal is a verbal commitment to a transaction.^[1] For the deal or agreement to become binding, one must witness the deal take place; have a follow up email or some form of communication to the other party; have any correspondence or other documentation that could be used as "evidence" in court or other legal needs; and/or begin to perform to the agreements in the deal.^[2]

Examples

Example 1:

• A owns a business, as does B.
• A wishes to make a merger with B.
• B agrees to the business merger by handshake deal.
• Six months later, A wishes to begin the merger, but B declines.
• B does not have to accept because the deal was not binding.

Example 2:

• A owns a business, as does B.
• A wishes to make merger with B.
• B agrees to the business merger by handshake deal.
• At the time C sees the Deal occur.
• Six months later, A wishes to begin the merger, but B declines
• Since C saw the handshake deal occur, it was binding and B must perform the merger.

Example 3:

• While in a bar together, A and B want to begin a business.
• On a napkin, they agree to share profits, 50/50.
• Some time later, A and B make a very successful business.
• A finds out that he was receiving 40% of profits while B was receiving 60% of profits.
• Since the deal was also written on a napkin, it became binding.
• In court, it was decided that A must be reimbursed by B for the total money A has been cheated out of.

See also

• Oral contract

References

• Kutlubeyyazicilar
• Kutlubeyyazıcılar
• Kutlu, Bolvadin
• Kutluca
• Kutluca, Besni
• Kutluca (disambiguation)
• Kutluca, Gumushacikoy
• Kutluca, Gümüşhacıköy
• Kutlug
• Kutlu, Gercus
• Kutlu, Gercüş
• Kutlug I Bilge Kagan
• Kutlug I Bilge Peilo
• Kutluhan, Haymana
• Kutluk Bilge Khaghan
• Kutluk Khagan
• Kutluk Yabgu Khagan
• Kutluma
• Kutlupur
• Kutlu, Suluova
• Kutluğ
• Kutlwano
• Kutlwanong
• Kutmarokkaan
• Kut-Marokkaan