Find Senior Care (City or Zip)
Join Now Log In
K
kate310 Asked March 2016

Does a gentlemen's agreement take preference over a contract?

My husband and I entered a business contract with a partner, whereby we owned 50%. with it going to the surviving spouse. My husband passed away over a year ago and I received a note from the partner saying I would no longer receive anything because he had a gentlemen's agreement with my late husband. I knew nothing about this and my husband would never had agreed. Both our names were on the original contract and I used my 401k to pay for the business.

GardenArtist Mar 2016
I think the partner just wants to get out of his commitments under the contract.

If there was any oral agreement, it may or may not be binding, depending on the state. I vaguely recall a situation dealing with oral contracts when I was working in transactional law, but don't remember the specific details, other than that the written agreement took precedent over any oral agreement, which was allegedly agreed to before the written contract was entered.

So if the alleged oral (gentlemen's) agreement was followed by a written agreement, it's my understanding of contract law that the written agreement overrides any oral agreement.

You might be able to sue for what's known as "specific performance" arising from default in a contractual agreement.

The kind of attorney to see is someone who specializes in contracts, which sometimes generally is considered "transactional law." It could also include the practice area of business law, which would be closer to your situation.

kate310 Mar 2016
I didn't wait long he only notified me of the gentlemens agreement a couple of days ago

ADVERTISEMENT


gladimhere Mar 2016
A contract far outweighs any gentleman's agreement! Yes, see an attorney ASAP! Why did you wait this long?

pamstegma Mar 2016
See your attorney immediately and take steps to enforce the contract.

ADVERTISEMENT

Ask a Question

Subscribe to
Our Newsletter