Basically, a verbal agreement in a partnership would never be valid in
court, should you ever have to go to court. When forming a partnership
with someone, it is important to lay out the expectations and the
agreement in writing, signed by both parties. If and when the
partnership decides to dissolve, there are no questions about the
division of the property, finances, assets, etc. If there are legal
problems and you end up in court, the written agreement is right there
in black and white, and there is no "he said, she said" to the matter.
