“My word is my honour” or “Lets just shake on it”. Saying these things and doing these things can feel good at the time however they can lead to disagreements later, which never feel good!  

Most people have the right intentions and are honest. I also know that our memories fade in time and there is a bias to remember the things we want to remember and forget the things we don’t.

Often a simple agreement in writing can solve many potential problems in the future. This is not legal advice ……….. I don’t think every agreement needs to be drawn up by a solicitor, there are certainly a number which do. If you have any doubt then speak to a solicitor.

After I have had a conversation and especially after we have shaken hands, I like to send a short e-mail confirming what we agreed on. It can be as simple as stating something along the lines of “based on what we discussed my understanding is …………… please can you confirm this is correct.”

Yes, this is not “iron clad” and I am sure that if push came to shove and we ended up in a legal battle that this confirmation would not carry much weight, it may carry some, but not much.

However, the plan is for it never to escalate to this point and just by clarifying what was agreed and expected, the chances of it happening are much less.   What’s better than winning an argument? Not having one!

If you require business advice, please get in contact with Sam at:

w: samharrop.com.au | t: (07) 4051 2221

e: office@samharrop.com.au