Agreements Oral Contract

by admin on September 10th, 2021

At noon of the voting day, Innoviva learned that one of its major shareholders would vote for two of the Sarissa candidates, which would seriously risk innoviva losing the vote. Electoral victory depended on a large remaining shareholder. How would she vote? Innoviva`s board of directors estimated that the remaining shareholder would vote for the Sarissa candidates, so the board allowed its vice chairman to agree with Sarissa by essentially accepting his latest proposal. At 2:30 this afternoon, the vice-president of Innoviva and a representative of Sarissa spoke by phone. The Vice President made the offer of the transaction and Sarissa`s representative agreed. The lawyers then exchanged settlement agreements over the next two hours. Several conditions must be met to conclude an oral contract. An oral contract is an oral agreement that can be legally binding.

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