Lunch at the local pizzeria today provided some entertaining
people watching. My favorite table included a group of older gentlemen who were
attempting to work out some kind of deal. When they got to certain portions of
the deal, they would switch languages to Italian, presumably so no one would be
able to pick up on what they were dealing with.
As I finished my lunch, they were wrapping up their deal
negotiations and ended their discussion the way things have been handled for
years: a good and proper handshake. While probably perfectly acceptable for
what they were discussing, it reminded me of a few of my open cases right now
where people made similar deals, but never got anything in writing, and now are
trying to get their money back.
For those unlucky souls who never get their agreements in
writing, the legal process can be an uphill battle, filled with intricate legal
theories to try and justify the recovery of their money or items. The flip side
of that coin are those who get their agreements in writing, usually drafted by
an attorney, and are able to sleep much better at night knowing that their
agreement is protected.
The challenge of all of this is what to do when the amount
being loaned or the value of the items is too small to justify paying an
attorney to draft up a formal contract. Is it better to just go with the
handshake and hope? Or maybe overpay an attorney to draft a complex agreement
that costs more than the money exchanging hands? It is that precise spot that
many people find themselves in, which represents a big hole in the legal market
from both the attorney and client standpoints.
Even if you aren’t going to go to an attorney to formalize
your agreement, at least make sure you have something in writing to show that
attorney later when everything goes awry.
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