Adam Oppenheim Quoted in Best Lawyers Article on the Enforceability of Handshake Deals in Real Estate Transactions

March 14, 2022

Best Lawyers recently quoted partner Adam Oppenheim in its 2022 Real Estate and Infrastructure Issue for an article addressing the enforceability of oral and handshake agreements during the pandemic. 

In the article, Oppenheim noted increasing reliance on oral modifications to written contracts during the pandemic. He predicted a corresponding growth in the litigation of these issues. 

“What I’ve seen so far is that, in the heat of the moment, those modifications weren’t always written down,” Oppenheim told Best Lawyers. “And when they were, they weren’t always written down carefully.”

 Oppenheim said many parties have been modifying contractual terms to confront new realities and avoid the impact of adverse consequences that are no longer hypothetical: foreclosure, eviction, the loss of investors or the complete collapse of a business venture. Given the fluidity of the current environment, he expects parties to continue to negotiate on the fly, often relying on oral and handshake agreements to confront rapidly shifting financial priorities. 

“I would expect to see more litigation about the enforceability of oral modifications to existing agreements—whether they are leases, purchase agreements or frankly any of a wide range of agreements in almost every commercial setting.”

Oppenheim shared with Best Lawyers some of the critical factors lawyers should be familiar with when advising clients and assessing the enforceability of unwritten modifications to written agreements.

The full article is available here.