Shaking Hands - Deal or No Deal

[Bumble Bee]

I'm under 50 and definitely consider an agreement whether verbal or a handshake binding.

A few years ago after a bit of a protracted rent review I shook on a deal. The land agent even shook hands with my agent. Then a week later I get a phone call saying that they cannot go at that deal. When I pointed out that we had shake on it and that a deal was a deal he just said smugly "ah, but we've not signed anything"
The next meeting was very interesting to say the least. He left with his tail firmly between his legs and he has not been back since!

 

[multi power]

What's a man but his word?

 

[Chae1]

I'm afraid in my experience you can't trust anyone nowadays. I'll shake on a deal but always ask for immediate confirmation of deal by email from said person. Had my fingers burnt several times from people forgetting what they've promised. Or the boss has said they can't do,it and they've went back on there word. Purchased loads of fertiliser that people have forgotten to order and price risen £70/t. Locked in loads of barley based on wheat futures and they haven't done it.

 

[holywell farmer]

A shake of the hand is everything..........remember, you can have fifty contracts but if the person signing is no good....the contracts are no good.

Some of the largest deals in history have been done on the shake of a hand.

Lot of trust in a handshake

 

[Matt L]

Always use a handshake for agreeing a deal. Means a lot to many of our clients old and young and means a lot to us. Prefer to deal in person with a handshake than an email. Lot more personal but that's just us.

 

[JeepJeep]

I dont think it has the same meaning nowadays as it once did... too many limp weak handshakes outthere.

 

[czechmate]

I'm afraid in my experience you can't trust anyone nowadays. I'll shake on a deal but always ask for immediate confirmation of deal by email from said person. Had my fingers burnt several times from people forgetting what they've promised. Or the boss has said they can't do,it and they've went back on there word. Purchased loads of fertiliser that people have forgotten to order and price risen £70/t. Locked in loads of barley based on wheat futures and they haven't done it.

You surprise me with those examples. As you, I ordered lots of fert over the phone and sold lots of grain. I never had a deal go "missing" no matter how favourable it might have been for them if it had - nor visa-versa

 

[Hilly]

If i shook hands on a deal and they cocked on it i would be very very vext at them, very vext i must have been lucky as everyone i have ever shaken on a deal has come through so far.

 

[roscoe erf]

I dunno.....folks get cold feet. No comfort to those being mucked about though.

your supposed to shake their hands

 

[ISCO]

a handshake can be legally binding just as your word is - a contract does not need to be in writing to be legally binding, its juts a lot easier to enforce if it is !

Only contract that must be in writing is for the sale of land.

 

[Chae1]

If you've no hard copy as in email or text it's just one man's word against another when it goes Pete Tong.

 

[Cowabunga]

In real life, mainly on the internet, you can legally contract to purchase a product , pay, accept delivery and yet send it back for any reason whatsoever or for no reason for a period of weeks after doing the deal. That includes quite expensive stuff that you have removed from the packaging and used for a period of time.

So I suppose it depends on which side of the fence you are standing on as to whether you believe contracts are binding or not. The 'consumer' doesn't seem to understand what a binding sale is about.

'Business to business' transactions have different rules but massive numbers of people today, including businesspeople who are of the consumer generation, seem to think that a done deal is only showing an intent or at worse, an interest in a product or service with final payment being optional at their whim.

 

[Old McDonald]

The only "big" deal I have done without written contracts was the building of a house. The man is dead now, but a "spit and a handshake" was the contract with James McLean of Culbokie on the Black Isle. I just took a liking to the man although I did not know him. My trust was repaid many times over by him and other people who found out what I had done, and were his lifelong friends.

 

[Mkfm]

Grandpa always said "a mans handshake is his bond" and I've always remembered it

 

[Roger Perry]

A mans' most valuable possessions.

His good name and his honor............

A woman too.

 

[rose pilchett]

Only a good woman, the others are a serious liability

 

[David.]

Regards the OP, that says to me that he was in his own mind not fully committed to the deal at the time, if his custom has always been to close with a handshake.

 

[Andrew B]

The responses have been interesting.
What I wanted to know is if in a non land deal wether a handshake with either a well known contact or with a stranger gave you confidence. As I knew the man well, who reneged on the deal, I didn't insist on the handshake but in future I will, but still be aware that the deal might no go through. Him not contacting me ( he normally returns calls immediately) shows clearly that he feels awkward.
I suppose he could redeem the situation by saying sorry but that's unlikely and even if he did then the relationship will never be quite the same.I am already looking for a replacement supplier. Its amazing how a few ££ can change someone so much
Having talked this through with a few contractors over the last 24 hours it is clear that to keep relationship then a deal is a deal but without relationship, and being concerned about reputation, people will not stand by their handshake.

 

[Roger Perry]

He could of course "Man Up" say he screwed up and offer his apologies.............walk away with some self respect.

 

[Andrew B]

Will let you know if that happens!