Two Types Of Agreement

These amounts represent a percentage of the material and labour costs that cover the current operating costs and the profits of the contractor. Many contractual agreements use oral contracts that only work well if there is no litigation. A handshake agreement can still be a contract and can be enforced (although often with difficulty) by a court. However, oral contracts may give rise to uncertainty as to the rights and obligations of each party. A dispute can arise if you don`t have anything written explaining what you have agreed. Some agreements can only be partially oral. For example, there may be supporting documents such as an offer or a list of specifications that are also part of the contract. At least you should write down the most important points that you have agreed with the tenant so as not to rely on memory. .