Oral Contract Solid Enough For Court & Star of "Flip" Remember Richard Davis? If the answer is 'no,' he's the Charleston real estate broker turned TV personality, that pioneered the Flip This House brand of reality television. For a few years now, he's been in a legal battle with cable channel A&E over profits. The gist of the case is whether Davis should be awarded a huge sum, via an oral contract he had with the station. According to two court decisions, Davis deserves the cash.
Admittedly, I've always practiced that oral contracts are "valid, but unenforceable." Using this 'rule of thumb' has served pretty well, as having things in writing has someone 'on the hook,' if nothing else (even if it's me). Not knowing case law, however, perhaps this line of thinking is out of date or just incorrect. Hmmm....
Even if oral contracts are now fine and dandy, I can't help but think it's a dangerous, loosy goosy way to do business. Any oral decision can easily become a battle of "he said/she said," that could swiftly become a lie fest.
I'm sure we'll hear more about this in the coming days. In the meantime, kudos to the legal team at Nelson Mullins.
This court case notwithstanding, I type with confidence my attorney friends will advise that the CYA Rule is in full effect. COVER YOUR A##!!! (Get it in writing)
No comments:
Post a Comment