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Always have a written document in every agreement.

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    IDEAS Always have a written document in every agreement.

    When we talk of finance and accounts, the major thing that always come to mind is money as it involves the calculation of money. However, many business owners have made the mistake of not having a written document when they give people money or sell items to people.

    It is crucial for ensuring that you have a written document of everything that you do in your business in order to have an evidence to fall back on when anything go awry in the future.

    Yes, I agree with you that it's important to have written agreement in every legitimate transaction. It will serve as a protection and security for both parties. It will also serve as a reference for clarification to avoid conflict. It should not be ignored. I felt sad for people who are ignorant and are too confident to trust especially with their property document. Many of them are abused. Always be careful and asked before deciding.


      A written contract ensures that all of the terms of your agreement are documented. The reason that verbal contracts can be problematic is that parties change, memories fade and, yes, people lie. Without a written agreement, a judge will have a hard time determining which version of events to believe in a “your word against theirs” scenario.


        In any transaction or contract that involves a substantial amount of money, a receipt or written contract is imperative. It is foolhardy to rely on trust even if you know the person very well. The document should also be examined very well including the fine print.


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