Legal Question in Business Law in Nevada

Validity of Verbal Contract

I began a business in nevada with a friend who ran the financials of the business under a DBA of his existing corporation. We agreed to share all profits according to a predetermined scale. After three years of this deal being adhered to, he is telling me that I am ''out'' of all deals because I moved out of the state. However, our deals are short in duration each year yet very lucrative. After three years, even though we have enforced this agreement based on a handshake, can he just tell me I am out and will no longer get any money?


Asked on 8/20/02, 9:15 pm

1 Answer from Attorneys
Joel Selik www.SelikLaw.com

Re: Validity of Verbal Contract

No he cannot. But it is a matter of proof when there is a verbal agreement. There are many ways to prove the terms.

Joel Selik

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Answered on 8/20/02, 9:22 pm


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