Verbal agreement doesn't hold any weight in business. Only written agreements do.

[King Belieal]

I know so many people that enter business deals with what I would call gentleman's agreement. They only agree verbally that they are going to stick to so and so terms in the business but nothing documented.

In business, if the agreement is not documented and signed, it is not a valid business agreement in the eyes of the law.

 

[Fidelia]

Any entrepreneur that enters into agreement with someone with just word of mouth is running a risk of losing out on all parts of the deal.

 

[Augusta]

That's why all contracts, agreement or transactions should be on black and white for future purpose

 

[freelancermaria]

It is essential to have written contracts when conducting business. Depending solely on verbal agreements can leave you vulnerable to substantial losses. It is indispensable to be careful and not automatically trust even family or close friends.

 

[Starmix]

Verbal agreement could be denied by the other party unless the verbal agreement was recorded in secret an assurance of no deniance.

 

[eLdavis]

With just verbal agreement, the other party can easily deny or reject it and there is notting you can do about it. A legal written agreement is always the best.

 

[Starmix]

Written agreement affixing the two parties agreement with a lawyer's notary is the most effective business agreement or any kind of agreement.