“Back in the day, when the Yankees always won the World Series and you could name a park after a Confederate general, we didn’t need no written contract; a man’s word was his bond, … yadda, yadda, yadda”.
Three things about that saying strike me. First, it was always a man; second, “the day” was
Football pundits like to discuss Red Zone effectiveness. Driving to the goal line doesn’t much matter if you don‘t score. So, why would a negotiating party fail to score an enforceable contract while negotiating from the Red Zone:
If your written agreement terminates and you engage in extensive discussions to reestablish the agreement but essential terms are not agreed on, you don’t have a binding contract. So said a Texas court in 2001 Trinity Fund, L.L.C. v. Carrizo Oil & Gas, Inc. Trading a bunch of emails without agreeing on the essential terms