Handshakes To Hashtags For Construction Deal-Making

Law360, New York (December 18, 2013, 8:31 PM EST) -- Ask anyone who has several years of experience in construction if they ever engaged in a handshake deal and the answer will be a resounding “yes.”

For those unfamiliar with the term, a handshake deal is essentially a verbal commitment that is sealed with a handshake between the contracting parties. Handshake deals were not just limited to transactions between a contractor and an individual.

It was, and sometimes still is, common for businesses to engage in sophisticated deals with a simple handshake between business owners. The...
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