Comments on: The Downside of Handshake Agreements? Everything. http://lancehaun.com/the-downside-of-handshake-agreements-everything/ Life between the brackets Wed, 08 Feb 2012 14:42:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Lance Haun http://lancehaun.com/the-downside-of-handshake-agreements-everything/#comment-781 Lance Haun Mon, 04 Aug 2008 05:12:25 +0000 http://www.yourhrguy.com/?p=344#comment-781 @ Eugene - You're right about all of those. @ HR Wench - LOL @ Sam - Great point. I didn't know about oral contracts but I knew they were sketchy at best. Let's just say I made sure my marriage certificate was signed. :) @ Eugene – You’re right about all of those.

@ HR Wench – LOL

@ Sam – Great point. I didn’t know about oral contracts but I knew they were sketchy at best. Let’s just say I made sure my marriage certificate was signed. :)

]]> By: Sam Burkman http://lancehaun.com/the-downside-of-handshake-agreements-everything/#comment-780 Sam Burkman Fri, 01 Aug 2008 04:13:38 +0000 http://www.yourhrguy.com/?p=344#comment-780 Here's your contract law fact for the day (courtesy of my graduate business law course). There are 5 contracts that must be done in writing to be enforceable (called the 'statute of frauds' -wiki it). One of those states "Contracts that cannot by their terms be performed within one year from the date of formation" (restg deal with land, marriage, collateral debts, and sale of goods >$500). So anytime an employer orally promises you something for work/service that will take over a year to complete, you have no contract. Here’s your contract law fact for the day (courtesy of my graduate business law course). There are 5 contracts that must be done in writing to be enforceable (called the ‘statute of frauds’ -wiki it).

One of those states “Contracts that cannot by their terms be performed within one year from the date of formation” (restg deal with land, marriage, collateral debts, and sale of goods >$500).

So anytime an employer orally promises you something for work/service that will take over a year to complete, you have no contract.

]]> By: HR Wench http://lancehaun.com/the-downside-of-handshake-agreements-everything/#comment-779 HR Wench Thu, 31 Jul 2008 23:43:19 +0000 http://www.yourhrguy.com/?p=344#comment-779 My new slogan for boyfriends and bosses: You don't really mean it unless you put it in writing. My new slogan for boyfriends and bosses:

You don’t really mean it unless you put it in writing.

]]> By: Eugene Lee http://lancehaun.com/the-downside-of-handshake-agreements-everything/#comment-778 Eugene Lee Thu, 31 Jul 2008 16:45:22 +0000 http://www.yourhrguy.com/?p=344#comment-778 If the resigning employee is in California, he is probably entitled under the Labor Code to payment of his last paycheck PLUS all accrued but unpaid vacation pay within 72 hours. Otherwise, penalties start accruing against the employer plus statutory attorney fees. As for the contract regarding ownership of the business or spiffs, the employee is probably out of luck unless he has written or other corroborating evidence. In any event, he should talk to an attorney in his jurisdiction as the laws in each state vary. If the resigning employee is in California, he is probably entitled under the Labor Code to payment of his last paycheck PLUS all accrued but unpaid vacation pay within 72 hours. Otherwise, penalties start accruing against the employer plus statutory attorney fees.

As for the contract regarding ownership of the business or spiffs, the employee is probably out of luck unless he has written or other corroborating evidence.

In any event, he should talk to an attorney in his jurisdiction as the laws in each state vary.

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