We wrote last week about the UK millionaire whose alleged deal reached in a pub was not upheld by the English courts (http://contractcanary.com/legal-update-pub-banter-lands-uk-millionaire-legal-trouble). Today we’re reporting on a million dollar napkin!
The case concerns two individuals involved in Alaska Dispatch News.
Tony Hopfinger, who headed the Alaska Dispatch News has alleges thatAlice Rogoff (the wife of a billionaire financier) had agreed to pay him $100,000 every month for ten years. The agreement, believe it or not, was reached on a napkin. The dispute centres around what each party believes the $100,000 payment was for. A deal such as this should have clearly been part of a full legal contract in order to ensure both parties are protected. As the agreement was reached on a napkin it of course did not contain sufficient detail and demonstrates the importance of getting a full contract drafted and signed. Click here to find out more about our contract drafting service: http://contractcanary.com/contract-drafting