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Business Tips

Written Agreement versus A Handshake Agreement

 

In today’s legal and complex business environment it is no longer astute, nor legally practical, to consider doing business on the strength of a handshake agreement. It must be followed up by a written agreement to ensure that all parties clearly understand the terms, intent and obligations of all parties involved in the agreement.

 

A handshake agreement that is not followed up by a written agreement, allows all parties the opportunity to change the terms later or get out of the deal completely.

 

 

Read this interesting article for more insight into the perils of a handshake agreement.

 

http://www.orlandobusinesslawyer.com/how-written-contracts-help-you/

 

 

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Paul Baggetta is the Founder & Principal of Baggetta & Co. Paul Baggetta has been a Taxation Accountant since 1981, a Financial Planner since 1998, and in 1993 qualified as a Real Estate Licensee, holding a Triennial Certificate (currently not trading) and operated his own Real Estate business for property investment clients for over 5 years as a second business.

Financial planning services are provided by Paul Baggetta as an Authorised Representative (No. 261469) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969. Australian Financial Services License No. 223135.

 

Taxation & Accounting services are provided by Paul Baggetta as a Registered Tax Agent (No.61487008) and is a Member of SMSF Association, FIPA & NTAA.