The Ethics Coach on Verbal Agreements, Ghostwriting and More Digging into the nuances of verbal agreements, the scary side of ghosting and working for the competition.
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Q: When you close a deal verbally, shake on it and confirm the conversation by e-mail, are both parties legally, morally and/or ethically bound to it? What is one's word worth?
A: The worth of a person's word is revealed over time. Reneging on a promise drives the value of reputation down.