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The Handshake Deal Protocol

ycombinator.com

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Re: The Handshake Deal Protocol

#231

Post by Dylan16807 »

rlpb wrote: post #224
Dylan16807 wrote: post #48

Earlier quoted context omitted.

A handshake sure sounds like a gesture used to signify that a deal has been negotiated to the satisfaction of both parties. Why would it not be a contract?

You might argue later that the clear intention was to not form a legally binding contract; that you were merely accepting the general terms, for the specifics to be agreed on later, and still had the option to refuse to go ahead at that point. On the other hand, you might argue later that you did intend it to be legally binding. Both arguments would be valid and your intent and what a reasonable man would assume woul…

It's tricky, true.

Ideally, I would like it to be binding based on their current understanding of the company. If something major and unexpected comes up in research then they can cancel, but only then. This proposal says to give all the important details of the investment up front specifically to try to avoid disagreement on specifics.

Re: The Handshake Deal Protocol

#232

Post by ronaldx »

Startups should think carefully about any source of bias behind Paul Graham's advice, and whether or not following pg's advice blindly is in their best interest.

Since the startup gave their (legally-binding) confirmation first, the entrepreneur may be able to stake a legal claim whenever they later choose to do so - or not.

Re: The Handshake Deal Protocol

#233

Post by dd000 »

davros wrote: post #201
dd000 wrote: post #166

Is this done before or after due diligence?

before, its like a really minimal term sheet and they are alwasy subject to due diligence, failure to reach agreement on the long-form, etc

this is only for YC companies right? not just any company. investors assume YC has done its homework

Re: The Handshake Deal Protocol

#234

Post by argonaut »

rlpb wrote: post #223
argonaut wrote: post #57

Earlier quoted context omitted.

Oral contracts are legally binding. http://en.wikipedia.org/wiki/Oral_contract

http://en.wikipedia.org/wiki/Intention_to_be_legally_bound

> There is a presumption for commercial agreements that parties intend to be legally bound (unless the parties expressly state that they do not want to be bound

https://en.wikipedia.org/wiki/Contract

If you're going to cite Wikipedia, please actually read it.

Re: The Handshake Deal Protocol

#235

Post by koko775 »

pg wrote: post #69
notatoad wrote: post #50

Totally unrelated to the topic at hand, but what is PG's obsession with tiny fonts? this article is set in 8.5pt font - can anybody read that? at 10pt HN itself is almost as bad.

Screen resolutions have been increasing.

But people's eyesight declines. My dad now puts his 27" iMac at 1024x768 because website font sizes are typically too small for him now.

Re: The Handshake Deal Protocol

#236

Post by pmjordan »

koko775 wrote: post #235
pg wrote: post #69

Earlier quoted context omitted.

Screen resolutions have been increasing.

But people's eyesight declines. My dad now puts his 27" iMac at 1024x768 because website font sizes are typically too small for him now.

Have you configured his iMac to run in HiDPI mode, using the "Quartz Debug" tool? (free download in the "Graphics Tools for Xcode" bundle from Apple's developer area) That at least increases the sharpness of the text, rather than the plain interpolation you get by changing resolution, which is quite blurry. I've set up my grandfather-in-law's iMac that way, it helps a lot!

Re: The Handshake Deal Protocol

#237

Post by koko775 »

pmjordan wrote: post #236
koko775 wrote: post #235

Earlier quoted context omitted.

But people's eyesight declines. My dad now puts his 27" iMac at 1024x768 because website font sizes are typically too small for him now.

Have you configured his iMac to run in HiDPI mode, using the "Quartz Debug" tool? (free download in the "Graphics Tools for Xcode" bundle from Apple's developer area) That at least increases the sharpness of the text, rather than the plain interpolation you get by changing resolution, which is quite blurry. I've set up my grandfather-in-law's iMac that way, it helps a lot!

I'm aware of it, but I don't think it's perfect, at least not for one of the older versions of OS X which his computer runs. Moot point, anyway, he doesn't want me messing with the way he has his display set up.
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