It's always a good idea to get a business agreement down on paper, but sometimes, for one reason or another, it doesn't happen. Most businesspeople in Colorado are familiar with the so-called handshake deal, and other types of contracts that are not necessarily in writing. Many of these agreements meet the basic requirements of a contract (offer, acceptance, consideration, competency, intent) and so will be legally enforceable. However, a law known as the Statute of Frauds requires that certain types of contracts must be in writing, or else they are not legally enforceable.
What types of contracts must be in writing?
Food truck owners need help getting business on the road
With the summertime comes a flock of food trucks on the streets of many other American cities, and especially in and around Denver. Just a decade ago, food trucks appeared to be no more than a trendy update to the lunch wagons and taco trucks of old. Now they represent a $2 billion industry.