Handshake agreement in Greek restaurant doesn’t hold up in court

|Canadian Employment Law Today

Leong & Associates Actuaries and Consultants Inc. v. Watt, 2003 CarwellBC 3135, (B.C. S.C.)

Julian Leong, an actuary, decided to hire William Watt, a financial planner. They decided Watt would fold his company into Leong’s business and Watt would receive shares in Leong’s business.

But Watt said no agreement was ever reached, even though he joined Leong’s Vancouver firm and the two assumed they would eventually come to an agreement. After dinner at a Greek restaurant, Leong said the two shook hands and said “it’s a deal.”