The Legal and Social Implications of Oral Promises, Handshakes and Agreements on Social Media
“An oral contract is worth only as much as the paper it’s written on.”
While the lawyer in me believes the above is true, social media and live streaming are changing everything when it comes to connecting and doing business with each other. Trust, reputation and perceived abilities are the new social currency.
For this reason and regardless of whether or not an agreement or promise is in writing, I think we should all treat oral promises, handshakes and agreements as gold. Whether they are in writing or not, they should be honored.