A handshake agreement is the highest form of business respect, a handshake agreement is an unwritten example of trust and confidence. Yet, a handshake agreement is worth little as so many individuals do not value the ethics of a handshake agreement.  

I have learnt, a handshake agreement is worthless unless supported by a document trail – this is unfortunate. That being said, I personally honour the handshake agreements I make. I believe I have personal honour, so a handshake agreement is as good as a written contract in my view. You never back down from a handshake agreement even if you have a loss-making deal, sometimes you just need to wear it. Sometimes you just need to get on with it regardless. 

So why do so many people refuse to acknowledge a handshake agreement as a binding contract?  Certainly, I wish to document details, this removes ambiguity leading to future misunderstandings, a written agreement is easy to interpret. However, once the details are agreed upon, personal values and integrity must take precedence. You make a verbal agreement, then you need to honour that agreement – no matter what. You should be as good as your word, you need to back up your actions. It really isn’t that difficult.