Why You Should Stay Away From Oral Agreements

Law360, New York (January 3, 2014, 1:16 PM EST) -- Litigation between two business school graduates over the termination of their oral partnership agreement lasted four years longer than their five-month partnership. Unless the goal is litigation, Gelman v. Buehler, 20 N.Y.3d 534. 964 N.Y.2d 80 (2013) reversing 91 A.D.3d 425 (1st Dept. 2012) (#101535/09), is a reminder that partnership agreements, although not required to be in writing, should be in writing, so that there is at least a baseline for what the partners intended when the relationship sours.

The Claim

According to the amended complaint,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.