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The Nevada Supreme Court Enforced An Oral Insurance Contract Based On A Handshake

Many dream of living back in the day when a man’s word was his bond and a handshake was enough to seal a deal.  But even back then, was a handshake a good way to do business?  Apparently not for Mr. Whitaker and Mr. Musgrave.  Their tale is found in the reports of the Nevada Supreme Court, Truck Ins. Exch. v. Whitaker & Musgrave, 71 Nev. 1, 278 P.2d 277 (1955).The two became partners in the livestock business.  Musgrave owned the local livestock auction in Fallon, Nevada.  Whitaker owned … [Read more...]